Systems including a hub platform, communication network and memory configured for processing data involving time-stamped/time-sensitive aspects and/or other features

ABSTRACT

Systems involving a hub platform, communication network, and memory configured for processing data involving time-stamped/time-sensitive aspects and other features are disclosed. In one example, an illustrative system may comprise a hub computer platform and associated computing components configured to generate a plurality of portals including at least first and second portals, including aspects such as automatically updating information displayed therein on a real-time basis between portals, automatically attaching and/or processing timestamps and identifier information that are attached to orders upon receipt and acceptance thereof, generating and/or processing information of an order file, generating, updating and/or interactively displaying various tabular and/or graphical information such as order and/or price discovery information that is automatically processed based on timestamps and/or other information, and/or generating other GUI features that, for example, may graphically display and continually update level-of-involvement information.

CROSS-REFERENCE TO AND INCORPORATION OF RELATED APPLICATION(S)

This is a continuation of application Ser. No. 14/340,774, filed Jul.25, 2014, published as US2016/0027109A1, now U.S. Pat. No. 11,195,230,issued Dec. 7, 2021, all of which are incorporated herein by referencein entirety.

FIELD OF THE INVENTION

The present invention generally relates to methods, processes andsystems to be used within financial markers for the non-partisanmarketing, distribution, pricing and allocation of new issue securitiesin a way that seeks to maximize investor participation. Moreparticularly, the disclosed invention relates to computerized systems,processes and methods for (a) electronically marketing new issuesecurities offerings using a global communications network and usingexisting order routing networks to gather orders for such offerings aspart of an open and transparent ordering process, and for (b) allocatingand distributing the new issue securities based upon the orders receivedduring the marketing period. In certain applications the presentinvention will disclose minimum offering thresholds that the offeringmust meet before investor orders will be confirmed and filled. Thepresent inventive system comprises an independent entity having nocompeting business interests in common with other securities industryconstituents, thereby helping to promote broad participation byinvestors and their broker-dealer advisors.

BACKGROUND OF THE INVENTIVE SYSTEM AND METHODOLOGY

The present invention was developed to address the reality that thereare millions of investors—along with their financial advisors—who arecompletely disconnected from the offering process for new issues ofsecurities. This is because the legacy offering methodology does notelicit or reward their interest with allocations; yet the pool ofinvestment capital that can be accessed is enormous by any measure andis of great importance to the capital formation process general and anyissuer seeking to access capital in the public markets.

For decades, new securities issues have been brought to market throughan underwriting group, led by a lead manager, using a methodologycommonly known as “book building.” The distribution of these newsecurities issues, using the book building methodology, has almostalways favored the lead manager and its investor clients to theexclusion of non-proprietary investor clients whose potential interestin the offerings is not invited and is routinely discarded.

To improve upon the current methodology, a new method and system must,at its core, be fair, be transparent, and be open to the entireinvesting public. While the markets have rebounded from the financialcrisis of 2008, many investors are still unable to participate in thenew issue offering process because of a lack of transparency in andaccess to the book building process, and because market information andbenefits that arise from new offerings are routinely directed to aselect group of entities, many of whom are afforded preferentialconsideration.

The present invention will engage all interested investors in the newissue offering process without regard to which financial advisors theyhave already chosen to do business with. This will be done by applyingwell-tested technology and protocols as an overlay to existingsecurities industry infrastructure—in a new way—that preserves industryincentives and investor protection measures while bringing much higherlevels of transparency to the price discovery and demand discoveryprocesses. The market positioning of the present invention comprising,in part, an independent entity is essential for the successfulelicitation of interest from all investors while identifying andqualifying true market demand and market-derived pricing.

The present invention will provide for the dissemination of informationabout each of the public offerings that are presented by the bub entitywithout restriction and, importantly, the inventive methodology will notallow the independent hub entity to accept any orders from investorsdirectly. Instead, investors will be directed to discuss any presentedoffering with the financial advisor of their choice, thereby preservingsuitability testing and other important investor protection measuresalready in place throughout the securities industry. Moreover, byoffering investors a single resource for information about available newofferings, the present invention will serve as a common calendar for allthe new offerings for which it is engaged to bring to the market.Furthermore, the present invention will offer investors real-timeupdates about indicative pricing and order flow activity, and bydisseminating minimum offering threshold parameters for contingentofferings, investors will be able to evaluate each offering on the basisof its order population (i.e., current demand levels) during themarketing period. This will help neutralize investor concerns about thetiming of their order submission—earlier vs. later in the marketingperiod. These features of the present invention, operating as parts of asingle platform, are expected to assemble a definitive sample of demandfor each new issue offering it is engaged to facilitate, therebybringing long-overdue improvements to this process and renewingwide-spread investor participation that will support the healthy growthof the U.S. capital formation process.

Public trust in the U.S. financial markets is of paramount importance toeveryone, yet tensions between the financial services industry andWashington, D.C. have barely lessened since 2008, and the publicperception of the financial investing industry is at historic lows. Inresponse to these concerns, the Dodd-Frank Act was passed and signedinto law in 2010. It called for stricter regulation of the banking andsecurities industries and for more stringent capital standards,including the “Volcker Rule.” Further, the fact that most of the keyfinancial institutions are now deemed to be “Too Big to Fail” pitssystemic risk concerns and the restraint of adverse incentives againstthe ongoing need for innovation and access to capital to support growthin both the public and private sectors. As further evidence of thispoint, a survey conducted in May of 2014 among senior financial servicesindustry professionals found that 81% of the respondents indicated that“the financial crisis still has a major impact on stakeholderperception.” Survey respondents also cited, among other issues, that“rebuilding trust in the overall financial system” is a critical successfactor in their struggle, to restore the industry's reputation.

With respect to one particular segment of the financial market—new issuesecurities offering process the current pricing and allocation process,known as book-building, has remained the same for decades, yet it hasmany weaknesses and problems inherent in how the process operates.Indeed, the 2012 Facebook initial public offering (“IPO”) ret Busedattention on the several shortcomings of new issue book-buildingmethodologies. Notably, in a June 2012 letter to the Chairman of theSecurities and Exchange Commission (“SEC”) from Durrell Issa, Chairmanof the House Committee of Government Oversight and Reform, specificquestions and concerns were raised about features of book building asthey were applied in the Facebook IPO. The features mentioned in theletter included institutional investor dominance of allocations, leadmanager discretion as to pricing and allocation, the ability to usenon-market based pricing for a new issue and the incidence ofunder-pricing, and barriers to information being disseminated to thebroader market.

As illustrated in FIG. 1A, current book-building methodology isnon-transparent, with limited public information about the offering,little information provided about the pricing process for the offering,and no real opportunity for the majority of investors to participate ona consistent basis. All marketing information about an offering isfunneled through one entity, the lead manager or lead agent, so theopportunity to take part is typically limited to the lead manager's ownsales organization. Given the control the lead manager has over thebook-building process, there is little incentive for other securitiesfirms to participate or support the offering, so the process ofdetermining an accurate offering price is subject to errors due to thelimited sample of market interest that can be gathered. The offeringprice may also be subject to last minute orders submitted by influentialaccounts. Furthermore, allocations of the offered securities toinvestors are often based on arbitrary factors. Inherently, the leadmanager has relatively broad discretion over which investor interest toinclude or exclude and how much to allocate to each. Moreover, ininstances when the lead manager has its own capital at risk, it may beincentivized to underprice an offering to reduce the risk of loss of itsown capital while creating an upside for certain client investors. Thisunderpricing may result in substantial investment proceeds not beingrealized by the issuer while increasing aftermarket volatility andprompting investors who were shut out of the offering to have to paypotentially higher prices for the same security, along with acommission.

Many market constituents have noted deep concerns about the bookbuilding process of managing new securities issues. In addition to theequity IPO problems that have received wide attention, the publicoffering process in the municipal bond and taxable fixed income marketsare also under regulatory scrutiny. Market regulators have noted how allmarkets would benefit from a more inclusive, transparent process formanaging new issues of securities. To be able to attain these goals,there is a need for enhanced connectivity, for real-time informationdistribution to the investing public, and a need for greatertransparency as the markets seek a broader population of broker-dealersand new pockets of investor capital. It has been expressed that theexpansion of the industry's distribution infrastructure, and thedissemination of new issue offering information to enhance theinvestors' decision process, could remedy many of these concerns.

Certain systems and processes have been developed and implemented inattempts to address some of the above noted issues. For example, theconcept of a “Dutch auction” has been used for distributing certainsecurities. By way of example, U.S. Pat. No. 7,647,270 issued to Evelynet al., for a System and Methods for Pricing and Allocation ofCommodities or Securities discloses a “bid mechanism whereby bidders arerewarded for priority of anonymously revealing their bids and provide anallocation of the securities which allows winning bidders to pay asingle market-clearing price that sells out the securities,” The '270patented system and methods also “allow all participants to monitor theauction in real time.” While the '270 patent describes use of a type ofauction process—are open Dutch auction system—whereby the bidders areallocated securities based upon the amount bid and the timing of thebid, the auction system is nonetheless controlled by the issue's leadunderwriter and “auction advisor.” Such a system retains an importantweakness inherent in current market book-built offerings, which is thatit requires investor orders be placed with the lead underwriter firmthat generally determines which orders are filled, while discouragingother securities firms from participating or supporting the offering.

There have also been several examples of auction type formats used fornew issue offerings or IPOs within the past several years. In August2004, Google Inc. completed its IPO using an auction-based offeringformat. While the Google IPO transaction had several problems, it wassuccessful at raising $1.67 billion during a very uneasy marketenvironment. Some of the Google drawbacks were that (a) Google requireda time-consuming pre-qualification protocol as a condition for beingallowed to bid in the IPO; (b) the Google IPO was distributed throughonly a limited syndicate of 28 broker-dealers; and (c) the Goggle IPOlead managers were not deemed to be supportive of a Dutch auction-typeprocess. These issues compromised the execution of the offering and ledto a substantial discount in the offering price compared to its price inthe aftermarket trading, which is typical in book-built IPOs. In furtherresemblance to book-built IPOs, the Google IPO experienced heavyfirst-day trading volume, in which secondary trading volume exceeded thesize of the entire IPO offering. This pattern of underpricing, followedby heavy first-day trading volume, is common among book-built offeringsand is clear evidence that such offerings are placed with investors whoare “buying the offering” with the expectation of quick profits.

Almost three years later, in May of 2007, interactive Brokers Group,Inc. (“IAB”) completed its IPO also using a Dutch auction-basedprocedure. The IAB IPO, although not as large as Google, was consideredsuccessful and is indicative of the growing acceptance by investors ofauction procedures for new issue securities. The IAB IPO was alsonoteworthy because it was an agency, non-underwritten offering, andthere was less of a pricing discount than would otherwise have beenexpected had the offering been managed as a traditional book-builtoffering. However, the IAB IPO did not provide any mechanism to augmentdemand discovery. Indeed, the Dutch auction mechanism, as used in theGoogle, IAB and other IPOs, while having the laudable objective ofimproving price discovery for new issue offerings, is merely that—aprice discovery mechanism that by itself, and in the hands of anoffering's lead manager, does little to expand investor access andimprove demand discovery.

As a further example of the use of current technology to broadly involvethe public in determining the acceptance and/or value of new ideas,several websites and organizations have been created to providecrowdfunding or crowdsourcing mechanisms, Kickstarter, Indiegogo,Artistshares, Fan Funded, and Rockethub are several current crowdfundingplatforms, with Kickstarter and Indiegogo being the most widely cited.While the basic concept of seeking public input to determine whether anew idea, product, creative output, or service is warranted is notnecessarily a new idea, the detailed implementation of such a conceptinto the Internet with its social media implications is a new idea thathas generated substantial interest and positive results for manycreative works, ideas, innovations and products.

One example of a method and apparatus for crowdsourcing is U.S. Pat. No.7,885,887 issued in 2011 to Carmelio, and assigned to ArtistShare, Inc.for Methods and Apparatuses For Financing and Marketing A Creative Work.The '887 patent systems and methods are specifically for raisingfinancing and/or revenue by an artist for a project created by theartist. While the '887 patent discloses methods for collecting fundingfor creative products, the patent does not teach any steps or systemsfor providing demand or price discovery relating to financial securitiesor within the investment market. While crowdfunding has generated a lotof excitement as a possible means for gathering capital from the broaderpublic, it exists outside the regulated securities industry environmentand as such its users lack access to the expertise and advice availablefrom trained investment advisors to guide prudent and informedinvestment decisions on the part of the public at large. The JOBS Act,which was passed into law to support crowdfunding in limitedcircumstances, charged the SEC with the development of regulations toprovide appropriate oversight to this process. As of this date, the SEChas yet to issue any draft rules or regulations for public comment.

Accordingly, there is a compelling need for new systems, processes andmethodologies for facilitating the pricing, allocation and distributionof new issue securities offerings that offer appropriate levels oftransparency and access to all investors, that facilitate theapplication of fiduciary and suitability standards testing, and providefor enhanced price discovery along with unique demand discovery tools.The present invention recognizes the drawbacks of the several priorattempts to address some of the Weaknesses of the current capitalformation process for new issues, and provides an innovative system,process and methodology incorporating several new and important featuresto address this challenge and several of the flaws inherent in thecurrent methodologies and systems.

SUMMARY OF THE INVENTION

The above noted problems inadequately or incompletely resolved by theprior art are addressed and resolved by the present invention.

A preferred aspect of the invention is a computerized method forconducting new issue securities offerings provided by issuing entities,said method operated by a centralized hub entity, and said methodcomprising the steps of (a) publishing new issue securities information,(b) accepting orders for said new issue securities, (c) updating the newissue securities offering information in real-time, (d) providing secureelectronic portals for each of said at least one lead agent, and saidissuing entity to access each entity's respective data and information,(e) upon conclusion of a marketing period, determining an offering pricefor said new issue securities; (f) disseminating said determinedoffering price; (g) calculating allocation information for said newissue securities to be issued for each accepted order, (h) preparing afinal listing of securities allocation information, and (i) transmittingsaid final listing of securities allocation information to said at leastone lead agent for settlement, and to said issuer.

Another preferred aspect of the present invention is a process tomarket, price and allocate new issue securities using an on-line globalcommunications network, comprising a hub entity, at least one issuingentity, a plurality of investors, and at least one lead agent, theprocess steps comprising (a) said hub entity providing real-timeoffering information to said global communications network; (b) said hubentity providing a secure portal for accepting orders on behalf of saidplurality of investors relating to said new issue securities; (c) saidhub entity updating said real-time securities offering information basedon said orders submitted on behalf of said plurality of investors; (d)said hub entity closing an offering link on said on-line portal aftertermination of a marketing period, and alter a preselected threshold oforders have been submitted on behalf of said plurality of investors; (e)after termination of said marketing period, said issuing entity and saidat least one lead agent determining an offering price for said new issuesecurities; (f) said hub entity disseminating said determined offeringprice to at least said plurality of investors; (g) said hub entitycalculating allocation information for said new issue securities to beissued for each accepted order; (h) said hub entity providing saidallocation information to said plurality of investors and at least onelead agent based upon a final list of orders submitted on behalf of saidplurality of investors; and (i) said at least one lead agent settlingallocations based upon said submitted orders and based upon said finallisting of orders.

Still another preferred embodiment of the present inventive device is asystem for conducting, new issue securities offerings, comprising a hubentity operating a computer processor with associated data memory; atleast one new issue securities issuer; at least one lead agent; aplurality of broker-dealers; and a plurality of investors associatedwith said respective plurality of broker-dealers; wherein said computerprocessor executes process steps comprising (a) providing real-timeoffering information to a global communications network; (b) providingan on-line portal for communication with said plurality ofbroker-dealers for the purpose of accepting orders from said pluralityof broker-dealers submitted on behalf of said respective plurality ofinvestors, relating to said new issue securities; (c) updating saidreal-time securities offering information based on said orders submittedby said plurality of broker-dealers; (d) said hub entity closing anoffering link on said on-line portal after termination of a marketingperiod, and after a preselected threshold of orders have been submittedby said plurality of broker-dealers on behalf of said respectiveinvestors; (e) after termination of said marketing, period, said issuingentity and said at least one lead agent determining an offering pricefor said new issue securities; (f) said hub entity disseminating saiddetermined offering price to at least said plurality of investors; (g)said hub entity calculating allocation information for said new issuessecurities for each accepted order; (h) providing said allocationinformation to said plurality of broker-dealers, said plurality ofinvestors and at least one lead agent based upon a final listing oforders submitted by said plurality of broker-dealers; and (i) said atleast one lead agent settling allocations with said plurality ofbroker-dealers based upon said submitted orders and based upon saidfinal listing of orders.

For each of the preferred aspects and preferred embodiments describedabove, a further element of the inventive method and process couldprovide for the acceptance of orders from the plurality ofbroker-dealers using various existing securities order routing networks.

The invention will be best understood by reading the following detaileddescription of the preferred embodiments in conjunction with thedrawings briefly described below.

BRIEF DESCRIPTION OF THE DRAWINGS

For the purposes of illustrating the invention, the attached drawingsshow several aspects and embodiments that are presently preferred.However, it should be understood that the invention is not limited tothe precise arrangement and instrumentality shown in the accompanyingdrawings.

FIG. 1A: is an illustration of the constituents within prior artbook-building for new issue security offerings;

FIG. 1B: is an illustration of the timeline segments relating to newissue security offerings:

FIG. 2 : is a system flowchart of an exemplary embodiment of the presentinvention showing the primary constituents and communication flow amongsuch constituents;

FIG. 3 : is a partial system flowchart of an exemplary embodiment of thepresent invention showing key constituents and communication flowbetween such constituents;

FIG. 4 : is an example screen shot of the hub entity website showinghome page unrestricted offering information that will be available toall public investors and their financial advisors;

FIG. 5 : is an example screen shot of the hub entity website showing,after proper authentication of the user, information relevant to eachparticipating broker-dealer;

FIG. 6 : is an example screen shot of the hub entity website showing,after proper authentication of the user, information relevant to eachlead agent and issuer of each offering;

FIG. 7A: is an operational flowchart of an exemplary embodiment of thecommencing steps of the marketing period under the inventivemethodology;

FIG. 7B: is a subsequent operational flowchart of an exemplaryembodiment of the steps for conducting the offering auction under theinventive methodology; and

FIG. 7C: is a subsequent operational flowchart of an exemplaryembodiment of the steps for concluding the offering auction under theinventive methodology.

DESCRIPTION OF THE PREFERRED EXEMPLARY EMBODIMENTS

An innovative system, process and methodology have been designed toaddress the new issue offering methodology problems and issues describedabove which are not addressed by the known prior art. The systemimplements a methodology and process that offers, for multiple marketsectors, a robust new platform and channel to provide for thenon-partisan pricing, allocation and distribution of new issuesecurities. The inventive system has application to new issue securitiesofferings including Exchange-Traded Funds (“ETFs”) and other managedinvestment products, taxable and tax-exempt debt, equity IPOs andfollow-ons, and other similar types of securities offerings.

The general timeline for creating, allocating and distributing new issuesecurities is illustrated in FIG. 1B. The timeline typically has threebasic periods: a pre-marketing period A; a marketing ordering period B;and the post-marketing period that includes the setting of allocationsand the settlement of the offering C. The inventive system andmethodology operates primarily in time period B, although in someembodiments, the methodology also encompasses operation within timeperiods A and C.

The primary elements or entities included in the inventive systems,methods and processes are illustrated in the FIG. 2 system flow diagram.At the core of the systems, processes and methodologies is the hubentity 100. The hub entity 100 is the information resource for the newissue offerings for institutional investors and the investing public ingeneral. The hub entity 100 also gathers investor orders from thefinancial advisors that the investors do business with, and provides theelectronic platform and channel for demand discovery price discovery,and transparent, non-partisan new issue pricing, allocation anddistribution.

The hub entity 100 has certain communication links and pathways 11, 12,17, 33, 41 with several of the other entities (respectively the issuer110, lead agent 120, Internet/Cloud 190, and broker-dealers 140) usingor involved with the process and system. More particularly, the primaryentities involved with the system include the issuer 110, who desires tosell new issue securities to the investing public in consideration andreturn for investment capital. The issuer 110 uses one or more lead ormanaging agent(s) 120 who acts as the primary relationship manager withthe issuer 110, and is a key offering advisor and marketing agent forthe issuer 110. More particularly, the lead agent 120 is expected tooversee the pro-offering due diligence and the advisory process with theissuer 110. The lead agent 120 also handles the preparation of theregistration statement and related documents, and prepares any “roadshow” and ancillary marketing materials that may be useful or necessaryto support the offering.

In certain markets, such as the Eft market, the issuer 110 also workswith a market maker 130 to create the new issue securities against thelead agent 120 order list that has been created, and is maintained bythe hub entity 100 as part of the described methodology. In certainother markets, and in other exemplary embodiments, the issuer 110 woulddirectly create the new issue securities after the completion of theoffering.

At the other end of the market spectrum, as shown in FIG. 2 , are theinvestors 150 wishing to invest in the issuer's new offering. In apreferred embodiment, the investors 150 work with their respectivefinancial advisors, who are employees of broker-dealers 140, to placelimit orders for the new issue securities with the hub entity 100.Finally, the hub entity 100 may exchange information with one or moremarket data provider(s) 199 that is relevant to the offerings duringboth the pre-marketing and the marketing periods. Such information fromthe market data provider 199 may include, again in the instance of theETF market, an estimate of the interim net asset value (“iNAV”) that isbased upon the current market value of the securities that underlie thenew ETF offering.

As further shown in FIG. 2 , the connection between the hub entity 100and the investors 150 for providing order submissions is through each ofthe investors' respective broker-dealers 140. There currently areapproximately 650 distinct self-clearing broker-dealers doing businesswith the U.S. public. The inventive system is designed to provide adirect communication link 41 between the hub entity 100 with each of thepotential 650 broker-dealers 140 that desires to and agrees toparticipate in the inventive system. In a preferred embodiment, theimitative system will be able to connect to each of these broker-dealers140 in the same manner that existing stock exchanges are able to connectto broker-dealers for routine secondary market trading order flow. It isimportant to note that such communication channels between the stockexchanges and broker-dealers, used for secondary market trading orders,have never before been used to support or provide for participation innew issue offerings. Accordingly, this feature of the inventivemethodology and system leaves intact all of the internal orderrouting/management protocols that are currently in use. Because the hubentity 100 directly communicates 41 with, and can accept orders from,the full universe of broker-dealers 140, the system provides, ascompared to the current book-building system, an open platform for theentire, investing public to have access to new issue offerings.

While order submissions cannot be made directly by an investor 150 tothe hub entity 100, there are at least two channels of communication,and information flow from the hub entity 100 to the investor community150. As illustrated in FIGS. 2 and 3 , the hub entity 100 publishesvarious offering information to the general public through its website330, and also provides order management messaging and actions throughits order routing network 41 to the investors' 150 broker-dealers 140.Such information is, in part, presented to the investor community 150with unrestricted access.

According to preferred embodiments, each broker-dealer 140 communicates45 with and receives 45 order information from its respective investors150 for the new issue offerings being presented by the hub entity 100.After receipt 45 of the investors' order information, the broker-dealer140 confirms 45 back to the respective investor 150 the investor's orderinformation. Because the hub entity 100 will not interfere with therelationships between the broker-dealers 140 and their respectiveinvestor clients 150, the broker-dealers will continue, as part of theirrelationship management with their clients to provide periodiccommunications 45 with their client investors 150, in order to manageorder prices and eligibility for order execution, and to ensuresufficient cash or equity is available in each investors' account tocomplete and settle the order executions should the new issue offeringachieve its stated minimum required funding levels. It is also expectedthat, similar to their current relationship management, thebroker-dealers 140 will perform suitability, appropriateness andcustomer knowledge reviews of each investor 150 prior to accepting anysuch orders from any particular investor clients 150.

After receipt of the orders from its investors 150, each broker-dealer140 then communicates 41 such order information to the hub entity 100 inthe form of limit orders. The submitted information includes, as shownin FIG. 3 , the limit orders 50 for the desired securities, comprising,in exemplary embodiments, the number of shares/units/bonds ordered byeach investor 150 at the maximum acceptable price levels. Such orderinformation must also specify the investor's account number and theoriginating branch office and respective financial advisor identifiers.

The hub entity collects the plurality of limit orders 50 in an orderlist for the offering, and confirms back to the respective broker-dealer140 the limit orders 50 placed with each broker-dealer 140 for eachinvestor 150. In an exemplary embodiment, the hub entity 100communicates with each broker-dealer 140 for order submission, and forsubsequent information of the status of the orders placed, usingFinancial Information eXchange (“FIX”) protocols. Such communicationsbetween the hub entity 100 and the broker-dealers 140 allow forappropriate consistent interface with the broker-dealer order routingnetworks that are in use today.

The hub entity 100 will also advise the broker-dealer(s) 140 which ofthe orders received from the broker-dealer 140 are, or are not,executable based upon the then current calculated iNAV or otherindicative reference price such as a coupon/interest rate or price pershare. Further, the hub entity 100 will be able to communicate to eachbroker-dealer 140 certain relevant analytics relating to the orders 50submitted by the broker-dealer. Such analytics, in some embodiments, mayinclude the broker-dealers' orders as a percentage of all ordersreceived and holders for each offering. The hub entity 100 will furtherdisclose to the broker-dealers 140 the selling fee to be paid per shareor per unit of the new security based upon the anticipated execution ofall eligible orders 50. In an exemplary embodiment, certain of theinformation provided by the hub entity 100 to the broker-dealers 140 maybe secured with limited access through, for example, apassword-protected link to a limited access information page.

As described above, the investors 150 are required to communicatedirectly with their respective broker-dealers 140, and not the hubentity 100. More specifically, the hub entity 100 will not accept ordersdirectly from any of the individual investors 150 thereby preserving theexisting relationships in place between the investors 150 and thebroker-dealers 140. While the hub entity 100 will not accept ordersdirectly from investors 150, the hob entity 100 will, as shown in FIG. 3, still have a public communication link with the investing public 150through the Cloud 190 and through the hub entity website 330. The hubentity 100 will use the Cloud 190 to provide general offeringinformation to the investors 150, to assist them in reaching an informedinvestment decision in consultation with their broker-dealers 140.

More particularly, with respect to an embodiment of the hub entitywebsite 330, as shown in the FIGS. 4, 5, and 6 example screenshots, thehub entity 100, through its website 330, or by directly uploading 17 tothe Cloud 190, can provide certain offering information troughunrestricted access to all investors 150, broker-dealers 140, leadagents 120, investment banks, market makers 130, issuers 110, and marketdata providers 199. The available information uploaded 17 by the hubentity 100 to the Cloud 190, may include a listing of open and closedofferings; real-time offering data for each open offering; links tooffering-related information including the final prospectus for eachoffering; third party market commentary and analytics; links to theissuers' website; and other similar resources and information.

In other exemplary embodiments, also shown in FIGS. 4, 5, and 6 , thehub entity 100 will publish on its website 330 detailed content andgraphical information of offerings currently being marketed, as well asa listing of expected future hub entity offerings. Such a displayprovides a “common calendar” of new issues intending to go to market,along with the dates for the anticipated closing of each offering. Thehub entity 100 will also publish to the Cloud 190 any issuer 110mandates, conditions or requirements relating to the offering sizeand/or number of holders.

As further shown in the example screen shot of FIG. 5 , the hub entity100 can provide through its website 330 specific administrativeinformation for each participating broker-dealer 140, including alisting of the offerings to which the broker-dealer 140 has submitted atleast one investor order. Also illustrated in FIG. 5 is an example ofhow the hub entity 100 can provide certain analytics and statistics toeach broker-dealer, showing the level of involvement of thebroker-dealer 140 in each specific offering. This same webpage couldprovide a means for the broker-dealer to cancel or amend individualorders for particular offerings, or indeed to suspend all orders for allofferings, as shown by the red button located at the lower right handcorner of the FIG. 5 example webpage.

Similarly, the hub entity 100 can provide a specific webpage withrelevant data and information for each offering's lead agent(s) 120, asshown in the example screen shot of FIG. 6 . This page, controlled andpublished by the hub entity 100, would show the offerings in which thelead agent 120 is the lead agent, in addition to further detailedinformation specifically relevant to that particular lead agent 120.Further detailed offering data and information could also be presentedfor lead agents to use. By way of one example, as shown on FIG. 6 (lowerright hand corner), the hub entity could provide real-time graphicaldata of the level of orders at each particular offering, price, alongwith the intended threshold of capital amount and number of shares. Withsuch a graphical presentation, the lead agent 120 can readily see theoffering's total share value and other order metrics at which theintended threshold of capital and/or number of desired shareholders willbe met.

In some embodiments, the hub entity 100 will also have a link 12 to andprovide detailed information to the issuer's lead agent 120, includingthe status of all orders for the offering(s) being managed by the leadagent 120. In exemplary embodiments, the hub entity 100 can also providesummary information to the lead agent 120 relating to each broker-dealer140, including the number of shares or units or bonds ordered, as wellas the number of holders represented by each respective broker-dealerorder. The hub entity 100 is also able to provide to the lead agent 120a picture of the global demand for the offering at each price levelrepresented in the then current order file maintained by the hub entity100.

As also shown in FIG. 2 , the hub entity 100 will have a communicationslink 11 with the issuer 110. In exemplary embodiments, the hub entitywill be able to provide to the issuer 110 full information and status ofthe orders placed by the full pool of participating broker-dealers 140.The hub entity 100 will also be able to provide to the issuer 110certain price sensitivity information showing the investors' demand forthe offering at specific price levels and the resulting size of the bookof orders. As part of the communication from the issuer 110 to the hubentity, the issuer 110 will provide to the hub entity 100 minimumoffering parameters, which may include a minimum number of holders, aminimum dollar amount raised, or other relevant metrics that will bedisseminated to the investor community through the hub entity's 100website 330.

As a means for the public to generally discover the scope and workingsof the present invention system and methodology, the hub entity 100 willalso provide links from its website 330 to various tutorials describingthe present invention's system, process and methodology, while alsoincluding various links to relevant investor reference information.

In some exemplary embodiments, the hob entity 100 may alsoelectronically provide offering and road show materials to the market atlarge via the Internet by employing links from or to the websitesoperated by one or more of the issuer 110, the lead agent/securitiesfirm 120, the SEC's link to EDGAR (or EMMA for municipal securities),and/or third-party providers of analytics and market commentary. Withsuch readily linked information, investors will have a wealth ofinformation for immediate review to assist in deciding whether to investin one or more of new issue offerings presented by the hub entity 100.

The market data provider (or exchange) 199 shown in FIG. 2 has a role inthe inventive system to calculate certain asset value information, and arole in the post-marketing period once secondary trading commences. Asshown in FIG. 2 , during the marketing period the hub entity 100communicates 33 with the market data provider 199 to provide the marketdata provider with the specifications for the required data resources.The market data provider 199 uses the specifications to calculate thedata resources that are disseminated on the hub entity's 100 website330. In exemplary embodiments, it is expected that the market dataprovider 199 will update the iNAV or other indicative reference metricson a set time frame interval of every 15 seconds, although other updatetime frames may be implemented or used by the hub entity 100.

In certain exemplary embodiments, the marketing process of an offeringusing the inventive system and methodology will strive to target thepricing range specified in the SEC filing for the public offering.Towards this goal, a summary profile of investor orders 50 received willbe broadly disseminated and updated on a real-time basis by the hubentity 100 during the marketing period. This marketing effort willencompass the lead manager's internal sales efforts as well as otherefforts to raise the offering's visibility to the market at large. Sincethe lead manager/agent 120 will have unique insight into the features ofthe issuer's 110 offering, as noted above, the lead agent 120 willlikely become the primary contact point for interested institutionalinvestors 150 while still allowing all other participating firms andtheir clients to achieve equal access to information through the hubentity 100 and to the offering. This equal access to all investors 150and participating broker-dealer firms 140 is a key advantage of theinventive system, process and methodology.

While the lead manager/agent 120 and the issuer 110 will have access tosummary order data in the hub entity 100 order file on a real-time basisduring the marketing period, other firms will not have direct access tothe same level of information about the offering. Instead, the non-leadbroker-dealers 140 will only have access to all individual orders 50submitted by their own financial advisors to monitor their own orderflow for compliance, sales management and syndicate accounting purposes.

At the time that the marketing period is to be closed, the system alsoprovides a mechanism for the hub entity 100 to commence the closingprocess based upon a consensus decision to do so being reached throughcollaboration between the lead manager/agent 120 and the issuer 110.More particularly, for any offering that has reached or exceeded theissuer's 110 offering criteria, the hub entity 100 will announce on itswebsite 330 that the order period will close at a specific time. At thattime, the hub entity 100 closes the marketing period for the offeringand, through review of the order file, collects and finalizes all orders50 submitted by the investors 150 through their respectivebroker-dealers 140. The hub entity 100 then provides to the leadmanager/agent 120 the detailed settlement information for allbroker-dealers 140 that have placed eligible orders for the offering tofacilitate the remittance of correct settlement amounts to the leadmanager/agent 120 in exchange for the delivery via book entry of theoffering's securities to each participating broker-dealer 120.

For non-ETF market applications, once the marketing period is closed andthe hub entity 100 finalizes the submitted limit orders 50, theallocation of securities in such an offering will be made pursuant to anauction model that gives preference to orders based upon price or someother disclosed methodology. To reward the early placement of orders,the hub entity 100 may specify on its website 330 that orders placedduring a specific time frame will be eligible for higher fill rates. Ifan early time preference is featured for any offering, the orders 50that are placed during the open time window, and which are deemedcompetitive based upon price, will be allocated a greater percentage orproportion of their order 50 amount than orders that are placed outsideof that time window. In some embodiments, order fill, rates may alsovary according to their specified prices. By way of example, the higherthe order price, or the lower the interest rate, the greater theallocation preference to that investor.

The “clearing price,” or the price at which all offered securities canbe fully subscribed for and sold, will be determined by the hub entity100, the lead manager/agent 120 and the issuer 110 using thecomprehensive information about market demand for the new offering asgathered by the hub entity 100 during the marketing period. The issuer110 and the lead manager/agent 120 will reserve the ability, in theirdiscretion, to choose an offering price that is more attractive forinvestors than the “clearing price.” This discretion to select anoffering price is an element of some embodiments notwithstanding thatthe closing price shall be the same for all investors 150 whose ordersare qualified to be filled. The hub entity 100 can also exclude anyorder 50, investor account 150 or broker-dealer 140 that the bob entity100 determines is disruptive or unreliable.

As described above, the three features of the inventive system andmethodology are: (1) a well-articulated auction methodology; (2)electronic connectivity with all broker-dealers doing business with thepublic, coupled with the ability to broadcast real-time offering dataover the Internet during the marketing period; and (3) true independencewithin the securities industry. The combination of the hub entity's 100three core features establishes a new bargain with investors—unlikecurrent methodologies and systems, investors in the hub entity's 100offerings will receive allocations based solely on the prices they arewilling to bid.

The inventive systems and methodologies have certain attributes andfeatures similar to current crowdsourcing systems. However, the presentinvention is distinct and requires participating investors to haveaccounts with broker-dealers to preserve the investor protectionbenefits that are part of the regulated industry environment. Moreparticularly, the present invention provides an electronic system andplatform for issuers 110 to present new issue securities offerings tothe investor public 150 in order to determine the level of investorinterest in the offering. Moreover, the present invention also providesa transparent and non-partisan methodology for the market to establishan appropriate offering price (price discovery), as well as a level ofinvestor interest (demand discovery) for the new issue securities. Suchsystems and methodologies do not exist in today's market.

A Preferred Embodiment of the Operation of the Methodology

The inventive system implements a process and methodology, in anexemplary embodiment, that operates according to the steps as shown inFIGS. 7A through 7C. More particularly, starting with FIG. 7A, in thecase of an ETF, after the issuer 110 receives 710 SEC approval of theoffering prospectus, the marketing period can commence. At this time,the lead agent 120 is able to launch 720 the marketing effort for thenew issue offering by announcing and distributing relevant offeringinformation. The hub entity 100 also publishes offering documents andinformation, including the offering time window for the marketingperiod, through the hub entity's website 330 and relatedtechnology/media. The offering information published by the hub entity100 at this time would also include references and electronic links tothe offering documents, the timetable for the offering, other relevantoffering details, and standard and appropriate offering disclaimers.

Next, the hub entity 100 would electronically transmit 730 an invitationto the full broker-dealer community 140 providing high-level detailsabout the offering and providing an electronic link to the offeringdocuments. As part of any offering announcement, the hub entity 100would describe the relevant features of the offering/auction protocols,which could include:

(a) the requirement that any investor 150 consult with their ownfinancial advisor—who would be an employee of a broker-dealer 140—aboutthe offering;

(b) that final offering securities allocations are to be based upon theprices of the orders submitted by the pool of investors 150, which shallbe in the form of limit orders that specify the maximum price that theinvestor is willing to pay;

(c) that once orders are submitted by the investors 150, such orderswill be deemed to be “good-'til-cancelled” (or GTC) orders unless either(i) the offering price fails outside previously disclosed parameters, or(ii) the hub entity 100 receives a cancellation notice from theinvestor's respective broker-dealer 140 prior to the deadline forsubmitting such cancellation notices;

(d) that the hub entity 100 may allocate securities on a pro-rata basisor some other disclosed methodology if demand for an offering exceedsthe offering size at the final determined offering price;

(e) that the hub entity 100 reserves the rig to exclude any order itreasonably deems to be manipulative or unreliable; and

(f) the maximum amount for which any one investor 150 may bid. By way ofexemplary embodiment, such maximum amount may be up to 50% of the totaloffering size. The maximum percentage will typically be determined bythe issuer 110 in close consultation with the lead agent 120 and the hubentity 100.

The hub entity 100, along With the lead agent 120 and the issuer 110collectively establish 740 the timing and duration of the marketingperiod. At this time, the hub entity 100 announces details of theoffering to the broker-dealer community 140, as well as to appropriatemedia outlets and financial websites, with the goal of broad informationdissemination to the investor community 150. In exemplary embodiments,the media outlets and financial websites could include the Wall StreetJournal, New York Times, Bloomberg, Thomson Reuters, Financial Times,Yahoo Finance, Google Finance, and other media outlets.

The broker-dealers 140 then communicate and work 750 with theirrespective clients and investors 150 to determine any order requestsfrom their respective investors. Importantly, all orders from thebroker-dealers 140 must be individually sent to the hub entity 100.Collection or bundling of investor orders by the broker-dealers 140 willnot be permitted because the purpose of the inventive methodology andsystem is to provide equal access to its offerings to all investors.Similarly, all orders made by the lead manager 120 are to be sent to thehub entity 100 individually and, consequently, cannot be bundled.

In a preferred embodiment, offering orders may be submitted 760 to thehub entity 100 by (i) a broker-dealer 140 financial advisor through thebroker-dealer electronic order routing system or (ii) by the financialadvisor to the broker-dealer syndicate or relevant trading desk viatelephone or email. It is important that the broker-dealers 140establish order record protocols with their respective financialadvisors for order routing to prevent duplication of orders. Aspreviously described, bids or orders may not be submitted by anyinvestors 150 directly to the hub entity 100. All orders must be from abroker-dealer.

For an order to be accepted 810 by the hub entity 100, it must indicatethe price and quantity for each specific bid. In that regard, if aninvestor 150 wishes to submit bids at multiple price points, each suchbid must be entered separately. If there is more than one order at orabove the eventual offering price, then all such investor 150 orders areaggregated by the hub entity 100 for acceptance and offering allocation.

As shown in FIG. 7B, upon receipt of and acceptance by the hub entity100, all orders are automatically 820 time stamped, indicate theoriginating broker-dealer 140 having identifiers for the originatingbranch office and financial advisor, and are added to the hub entity'scentral order book for the relevant offering at the relevant pricelevel.

So long as such orders meet all regulatory and compliance standards,broker-dealers 140 may also submit orders for their own account. Toensure complete disclosure, all such broker-dealer “own account” ordersare to be identified and marked “as principal” or with some othersimilar identifier. Moreover, no such broker-dealer orders will befilled prior to any orders submitted at the same price by thebroker-dealer 140 as an agent on behalf of its public investors 150.

As described above, with reference to FIG. 2 , during the marketingperiod, each of the broker-dealers 140 that have submitted acceptableoffering orders will have on-line access to their respective offeringsummary information and order file. More to the point, to ensureappropriate confidentiality, the originating broker-dealers 140 onlyhave access to their respective submitted orders. Such secureinformation will show all order activity originating, from thatbroker-dealer firm 140, but will not show any information or individualorder activity for any other broker-dealers.

During the marketing period, the hub entity 100 will post certainoffering-related information through its website 330. Within the hubentity website 330, each of will have its own dedicated web pages toprovide relevant information to the public, with certain of the offeringinformation being updated 830 in real-time. Such relevant publicoffering information may, in exemplary embodiments, include the (a)total number of offering units subscribed for and the total number ofholders represented by these orders, (b) price range for 95% of theorders already submitted, and (c) time remaining in the marketing periodfor that offering.

At the end of the marketing period, when the offering achieves 840 theissuer's preselected minimum criteria, the lead agent 120 in conjunctionwith the hub entity 100 posts 850 a notice that the order period hasended. In alternative preferred embodiments, the hub entity 100 couldalso publish “pre-closing” notices prior to the end of the order period.The hub entity 100 then determines the clearing price at which all thesecurities being offered can be sold. Further, for the issuer 110 andlead agent 120 analytics purposes, the hub entity 100 may construct andpublish, in the hub entity's central order file, a sensitivity analysisshowing investor demand at each price increment above and below theclearing price. The hub entity 100 will share the post marketing periodcalculations and analytics with the lead manager 120 and issuer 110 assoon as practicable after the close of the marketing period.

As suggested above, there may be significant demand for some offeringssuch that there may be a desire or incentive to increase the size of theoffering during the marketing period. If the lead manager 120 and theissuer 110 decide to do this, the marketing period deadline, in someembodiments, may need to be extended to allow for the filing of related,amended offering documents and the dissemination of the new offeringsize and to gauge market reaction.

After the close of the marketing period, as shown in FIG. 7C, the finaloffering size and the clearing price are set 910 as a function of thelimit order 50 data collected by the hub entity 100. Thereafter, in anexemplary embodiment of the methodology, the issuer 110 and lead agent120 determine 920 the final offering price. Because the clearing priceis determined to ensure that all securities being offered are sold, thefinal offering price may be lower than the clearing price, therebysetting demand for more securities in excess of the identified quantity.The offering price should not be set higher than the clearing price,because such a price would result in an incomplete sale of the offeredsecurities.

The calculated clearing price and determined offering price are thendisseminated or published to the investor community through the hubentity 100 website 330 and through use of the same media outlets andfinancial websites as described above, including again, by way ofexample the Wall Street Journal, New York Times, Bloomberg, ThomsonReuters, Financial Times, Yahoo Finance, and Google Finance. Additionalinformation that may be disseminated at the same time includes (a) thetotal number of bids and amount of securities that were bid for at eachprice level, (b) the total number of bids and amount of securities bidfor at or above the final offering price, and (c) the number oforiginating broker-dealers.

After the close of the marketing period, the hub entity 100 willcalculate 930 all offering allocations on a per-order basis and willtransmit confirmations to each of the originating broker-dealers 140along with settlement instructions and accounting information. The hubentity 100 will also furnish 940 the lead agent 120 with an electronicfile having the specific settlement and accounting information for eachbroker-dealer 140, or on a per-broker-dealer basis. It is expected thateach participating broker-dealer 140 will confirm their respectivesettlement data with the lead agent/manager 120 on the same business daythat the offering allocations are transmitted.

The lead agent 120 will then cause the final offering documents to bedistributed 950 to all participating broker-dealers 140, who in turnwill transmit such documentation to each of their respective investors150 who are to receive allocations of the offering based upon the ordersof each investor. The lead agent 120 will then settle 960 with allbroker-dealers 140 using the offering price as published on the hubentity 100 website 330. It is expected that settlement 970 with theissuer 110 will occur with the lead manager 120 on the same business daythat settlement occurs with all allocations against payment fromparticipating broker-dealers 140. After settlement occurs, in apreferred embodiment, the market maker is able to create 980 the newoffering units. Finally, within two to five business days of thesettlement of offering allocations with the investors 150, secondarytrading of the offering securities is then expected to commence 990 onan identified exchange.

In some embodiments, for any offering that appears on the hub entity 100website 330, the issuer 110 may require that there be a minimum amountof securities sold or a minimum number of holders in the hub entity 100order file before the offering can be priced and closed. If this featureis part of an offering, it will be disclosed to the market as part ofthe commencement of marketing 740 the offering. In this embodiment ofthe present invention, investors 150 will only have their accountsdebited by their broker-dealers 140 if and when the issuer's 110 minimumoffering criteria have been met. Settlement for any offering 970 willfollow standard protocols with the lead manager/agent 120 coordinatingdirectly with the each broker-dealer 140 using data provided by the hubentity 100.

As shown in FIG. 1B (segment A), in some embodiments, where such priorinformation is appropriate, the marketing period may begin with an earlyorder sub-period during which orders that are submitted in thatsub-period may be eligible for higher fill rates if they are submittedat prices that meet or exceed the eventual clearing price for theoffering. Such pre-market period orders, and the ability to receivehigher fill rates wilt be publicly disseminated by the hub entity 100 onits website 330, or other public media, prior to the opening of thepre-marketing period.

In cases when the marketing period and order window unfolds as expected,and as described above, when the issuer's offering criteria levels areachieved, the offering order window is closed in an expected predictablefashion. However, should unexpected events arise, or certain marketturbulence develop, in some embodiments, the hub entity 100 will also beable to suspend all orders for a broker-dealer 140, or for the entireoffering. The hub entity 100 will so advise the broker-dealer orbroker-dealers 140 of such action during any such periods of marketturbulence or where events necessitate such order suspension.

While preferred embodiments of the inventive methods and systems havebeen described and disclosed, in particular for certain figures andexemplary embodiments relating to securities, including ETFs, such newissue securities are not to be construed as limiting the scope ofapplication of the inventive systems, processes, and methodologies. Moreparticularly, in addition to ETs, other new issue offerings, includingwithout limitation, taxable and tax-exempt debt, equity IPOs and othersimilar types of new issue securities offerings may also use theinventive systems, processes, and methodologies. By way of one example,in another specific embodiment, the inventive methods and systems may beapplied to secondary market trading in instances where the hub entity100 can improve market liquidity by allowing investors, through theirbroker-dealers, to offer all or part of their investment holdings toother investors. The hub entity 100 would act as a matching platform andfacilitate settlement in exchange for a fee. In another embodiment, thelead agent, or a lead agent 120 could also operate as the hub entity100, instead of having distinct business entities operating as the leadagent 120 and hub entity 100.

It will be recognized by those skilled in the art that othermodifications, substitutions, and/or other applications are possible andsuch modifications, substitutions and applications are within the truescope and spirit of the present invention. It is likewise understoodthat the attached claims are intended to cover all such modifications,substitutions, and/or applications.

What is claimed is:
 1. A system comprising: a hub entity computerplatform configured to electronically conduct one or more new issuesecurities offerings, the computer platform comprising at least oneprocessor and non-transitory computer readable media, the non-transitorycomputer readable media including computer-readable program instructionsthat, when executed by the at least one processor, cause the computerplatform to perform the instructions; and a communication network inoperative communication with the computer platform; wherein thecomputer-readable program instructions include instructions for:generating a plurality of portals including a first portal provided toat least one electronic order routing and management system associatedwith one or more broker-dealers and a second portal provided to at leastone computer associated with at least one lead agent; wherein a leadagent portal is provided, via the second portal, during marketing of theone or more new issue securities offerings and closing of the one ormore new issue securities offerings; and wherein the one or morebroker-dealers subscribe, via the computer platform, to engage inbrokering the one or more new issue securities offerings using abroker-dealer portal; receiving, at the computer platform in real-time,via the broker-dealer portal, during the marketing of the one or morenew issue securities offerings, one or more orders associated with oneor more investors regarding the one or more new issue securitiesofferings, wherein the one or more orders comprise one or more of a neworder, an order amendment and/or an order cancellation; attaching, bythe computer platform, automatically upon receipt of the one or moreorders by the computer platform, timestamp information regarding each ofa plurality of orders received at the computer platform; confirming, bythe computer platform, whether or not each order is acceptable forfurther processing by the computer platform as an accepted order;updating an order file with the accepted orders, wherein the order fileis stored in memory and contains information regarding orders processedby the computer platform, said orders being associated with the one ormore new issue securities offerings; providing the lead agent portal tothe at least one computer associated with the at least one lead agent,the lead agent portal comprising a first graphical user interface (firstGUI) including: at least one order depth table associated with one ofthe one or more new issue securities offerings, wherein the at least oneorder depth table is automatically updated based on the accepted orders,in real-time, by the computer platform, and posted to the lead agentportal; wherein, for a plurality of price levels, the at least one orderdepth table comprises data fields including limit prices and cumulativenumber of shares, wherein the at least one order depth table is sortedbased on a value of the limit price, such that a limit price isidentified, in real-time by the computer platform, as a currentindicative clearing price of an associated new issue securities offeringthat is associated with the at least one order depth table; and whereinthe lead agent portal provides price sensitivity information indicatinginvestor demand, at specific price levels, for the associated new issuesecurities offering; providing an informational portal, in the pluralityof portals, to general public for publishing real-time offeringinformation regarding the one or more new issue securities offeringsincluding the associated new issue securities offering, the real-timeoffering information comprising at least one of an offering name and thecurrent indicative clearing price that are updated based on the acceptedorders; responsive to processing of the accepted orders, updating thecurrent indicative clearing price of the associated new issue securitiesoffering, and displaying on a real-time basis, the current indicativeclearing price at the lead agent portal until marketing of theassociated new issue securities offering concludes; wherein saiddisplaying, based on continually updating of the order file on areal-time basis, of the offering information including the currentindicative clearing price, reflects a current market price and a currentmarket value, to thereby display, on a real-time basis, the currentindicative clearing price on the lead agent portal; determining, by thecomputer platform, for at least one new issue securities offering of theone or more new issue securities offerings, subsequent to termination ofmarketing of the at least one new issue securities offering by thecomputer platform, and during closing of the at least one new issuesecurities offering, a clearing price and/or an offering size of the atleast one new issue securities offering; establishing an offering priceof the at least one new issue securities offering, either by setting theoffering price based on the clearing price or by receiving the offeringprice from the at least one lead agent; disseminating the offeringprice, of the at least one new issue securities offering, to the one ormore broker-dealers; generating, for the accepted orders associated withsaid at least one new issue securities offering, on a per-order basis,allocation information for said at least one new issue securitiesoffering; and generating one or more final listings of securitiesallocation information based on the allocation information.
 2. Thesystem of claim 1, wherein summary information regarding the acceptedorders is displayed, on a real-time basis, on the broker-dealer portal,until the marketing of the associated new issue securities offeringconcludes; wherein the summary information includes one or more of theupdated current indicative clearing price, time remaining in themarketing of the associated new issue securities offering, quantity ofoffering units subscribed for, quantity of holders represented by theaccepted orders, and/or price range for substantially all of theaccepted orders.
 3. The system of claim 2, wherein the computer platformis configured to: assemble the one or more orders directly from the oneor more broker-dealers.
 4. The system of claim 2, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 5. The system of claim 4, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 6. The system of claim 2, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 7. The system of claim 2, wherein the programinstructions further include instructions for: publishing, for theassociated new issue securities offering, on the informational portal,on a real-time basis, one or more of the updated current indicativeclearing price, the established offering price, a quantity of offeringunits subscribed for, a quantity of holders represented by the acceptedorders, price range for substantially all of the accepted orders, and/ortime remaining in the marketing of the associated new issue securitiesoffering.
 8. The system of claim 2, wherein the allocation informationgenerated on the per-order basis is generated based on one or more of:an order price, an order entry time, an order size, and/or on a pro-ratabasis.
 9. The system of claim 2, wherein one or more of the at least onecomputer associated with at least one lead agent also operates as one ofthe one or more broker-dealers.
 10. The system of claim 9, wherein thesecond portal provided to one or more of the at least one computerassociated with at least one lead agent also operates as the firstportal.
 11. The system of claim 2, wherein at least one of the pluralityof portals utilize existing securities transaction protocols to transmitelectronic data regarding new issue securities offering informationassociated with the one or more new issue securities offerings.
 12. Thesystem of claim 1, wherein the program instructions further includeinstructions for: publishing, for the associated new issue securitiesoffering, on the informational portal, on a real-time basis, one or moreof the updated current indicative clearing price, the establishedoffering price, a quantity of offering units subscribed for, a quantityof holders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 13. Thesystem of claim 12, wherein the computer platform is configured to:assemble the one or more orders directly from the one or morebroker-dealers.
 14. The system of claim 12, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 15. The system of claim 14, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 16. The system of claim 12, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 17. The system of claim 12, wherein the allocationinformation generated on the per-order basis is generated based on oneor more of: an order price, an order entry time, an order size, and/oron a pro-rata basis.
 18. The system of claim 12, wherein one or more ofthe at least one computer associated with at least one lead agent alsooperates as one of the one or more broker-dealers.
 19. The system ofclaim 18, wherein the second portal provided to one or more of the atleast one computer associated with at least one lead agent also operatesas the first portal.
 20. The system of claim 12, wherein at least one ofthe plurality of portals utilize existing securities transactionprotocols to transmit electronic data regarding new issue securitiesoffering information associated with the one or more new issuesecurities offerings.
 21. The system of claim 1, wherein thecomputer-readable instructions further include instructions for:providing the broker-dealer portal, of the plurality of portals, to oneor more subscribing broker-dealers during the marketing of the one ormore new issue securities offerings and the closing of the one or morenew issue securities offerings, wherein the broker-dealer portal furthercomprises a table of orders, wherein, for each order in the table oforders, the table of orders further comprises data fields including twoor more of a limit price, a number of shares, an order value, accountinformation, and a timestamp generated for each order by the computerplatform.
 22. The system of claim 21, wherein the computer platform isconfigured to: assemble the one or more orders directly from the one ormore broker-dealers.
 23. The system of claim 21, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 24. The system of claim 23, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 25. The system of claim 21, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 26. The system of claim 21, wherein summary informationregarding the accepted orders is displayed, on a real-time basis, on thebroker-dealer portal, until the marketing of the associated new issuesecurities offering concludes; wherein the summary information includesone or more of the updated current indicative clearing price, timeremaining in the marketing of the associated new issue securitiesoffering, quantity of offering units subscribed for, quantity of holdersrepresented by the accepted orders, and/or price range for substantiallyall of the accepted orders.
 27. The system of claim 21, wherein theprogram instructions further include instructions for: publishing, forthe associated new issue securities offering, on the informationalportal, on a real-time basis, one or more of the updated currentindicative clearing price, the established offering price, a quantity ofoffering units subscribed for, a quantity of holders represented by theaccepted orders, price range for substantially all of the acceptedorders, and/or time remaining in the marketing of the associated newissue securities offering.
 28. The system of claim 21, wherein theallocation information generated on the per-order basis is generatedbased on one or more of: an order price, an order entry time, an ordersize, and/or on a pro-rata basis.
 29. The system of claim 21, whereinone or more of the at least one computer associated with at least onelead agent also operates as one of the one or more broker-dealers. 30.The system of claim 29, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 31. The system of claim 21,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 32. The system of claim 1, wherein,for the associated new issue securities offering, the real-time offeringinformation further comprises one or more of: a current number of sharesassociated with the accepted orders, where said accepted orders have alimit price at or higher than the current indicative clearing price; acurrent cumulative number of shares associated with the accepted ordersper respective price level; a current number of holders associated withthe accepted orders where said accepted orders have a limit price at orhigher than the current indicative clearing price; a current number ofholders associated with the accepted orders per respective price level;a current amount of market value of the accepted orders, where saidaccepted orders have a limit price at or higher than the currentindicative clearing price; and/or an amount of time remaining untiltermination of the marketing of the associated new issue securitiesoffering.
 33. The system of claim 32, wherein the computer platform isconfigured to: assemble the one or more orders directly from the one ormore broker-dealers.
 34. The system of claim 32, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 35. The system of claim 34, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 36. The system of claim 32, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 37. The system of claim 32, wherein summary informationregarding the accepted orders is displayed, on a real-time basis, on thebroker-dealer portal, until the marketing of the associated new issuesecurities offering concludes; wherein the summary information includesone or more of the updated current indicative clearing price, timeremaining in the marketing of the associated new issue securitiesoffering, quantity of offering units subscribed for, quantity of holdersrepresented by the accepted orders, and/or price range for substantiallyall of the accepted orders.
 38. The system of claim 32, wherein theprogram instructions further include instructions for: publishing, forthe associated new issue securities offering, on the informationalportal, on a real-time basis, one or more of the updated currentindicative clearing price, the established offering price, a quantity ofoffering units subscribed for, a quantity of holders represented by theaccepted orders, price range for substantially all of the acceptedorders, and/or time remaining in the marketing of the associated newissue securities offering.
 39. The system of claim 32, wherein theallocation information generated on the per-order basis is generatedbased on one or more of: an order price, an order entry time, an ordersize, and/or on a pro-rata basis.
 40. The system of claim 32, whereinone or more of the at least one computer associated with at least onelead agent also operates as one of the one or more broker-dealers. 41.The system of claim 40, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 42. The system of claim 32,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 43. The system of claim 1, whereinat least one order received at the computer platform from the at leastone electronic order routing and management system includes one or moreidentifiers containing origination data.
 44. The system of claim 43,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 45. The system ofclaim 43, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 46. The system of claim 45, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 47. The system of claim 43, whereinthe computer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 48. The system of claim 43, wherein summary informationregarding the accepted orders is displayed, on a real-time basis, on thebroker-dealer portal, until the marketing of the associated new issuesecurities offering concludes; wherein the summary information includesone or more of the updated current indicative clearing price, timeremaining in the marketing of the associated new issue securitiesoffering, quantity of offering units subscribed for, quantity of holdersrepresented by the accepted orders, and/or price range for substantiallyall of the accepted orders.
 49. The system of claim 43, wherein theprogram instructions further include instructions for: publishing, forthe associated new issue securities offering, on the informationalportal, on a real-time basis, one or more of the updated currentindicative clearing price, the established offering price, a quantity ofoffering units subscribed for, a quantity of holders represented by theaccepted orders, price range for substantially all of the acceptedorders, and/or time remaining in the marketing of the associated newissue securities offering.
 50. The system of claim 43, wherein theallocation information generated on the per-order basis is generatedbased on one or more of: an order price, an order entry time, an ordersize, and/or on a pro-rata basis.
 51. The system of claim 43, whereinone or more of the at least one computer associated with at least onelead agent also operates as one of the one or more broker-dealers. 52.The system of claim 51, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 53. The system of claim 43,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 54. The system of claim 1, whereinthe computer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 55. The system of claim54, wherein the computer-readable program instructions further includeinstructions for generating the plurality of portals provides forconnecting the at least one processor with one or more internal orderrouting and management systems of the one or more broker-dealers, suchthat the computer platform is configured for direct communication withthe one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 56. The system of claim 55, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 57. The system of claim 54, whereinthe computer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 58. The system of claim 54, wherein summary informationregarding the accepted orders is displayed, on a real-time basis, on thebroker-dealer portal, until the marketing of the associated new issuesecurities offering concludes; wherein the summary information includesone or more of the updated current indicative clearing price, timeremaining in the marketing of the associated new issue securitiesoffering, quantity of offering units subscribed for, quantity of holdersrepresented by the accepted orders, and/or price range for substantiallyall of the accepted orders.
 59. The system of claim 54, wherein theprogram instructions further include instructions for: publishing, forthe associated new issue securities offering, on the informationalportal, on a real-time basis, one or more of the updated currentindicative clearing price, the established offering price, a quantity ofoffering units subscribed for, a quantity of holders represented by theaccepted orders, price range for substantially all of the acceptedorders, and/or time remaining in the marketing of the associated newissue securities offering.
 60. The system of claim 54, wherein theallocation information generated on the per-order basis is generatedbased on one or more of: an order price, an order entry time, an ordersize, and/or on a pro-rata basis.
 61. The system of claim 54, whereinone or more of the at least one computer associated with at least onelead agent also operates as one of the one or more broker-dealers. 62.The system of claim 61, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 63. The system of claim 54,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 64. The system of claim 1, whereinthe computer platform is further configured to one or both of: determinethat at least one of the one or more orders is disruptive, manipulativeor unreliable, and/or exclude said at least one of the one or moreorders determined to be disruptive, manipulative or unreliable.
 65. Thesystem of claim 64, wherein the computer platform is configured to:assemble the one or more orders directly from the one or morebroker-dealers.
 66. The system of claim 64, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 67. The system of claim 66, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 68. The system of claim 64, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 69. The system of claim 64, wherein summary informationregarding the accepted orders is displayed, on a real-time basis, on thebroker-dealer portal, until the marketing of the associated new issuesecurities offering concludes; wherein the summary information includesone or more of the updated current indicative clearing price, timeremaining in the marketing of the associated new issue securitiesoffering, quantity of offering units subscribed for, quantity of holdersrepresented by the accepted orders, and/or price range for substantiallyall of the accepted orders.
 70. The system of claim 64, wherein theprogram instructions further include instructions for: publishing, forthe associated new issue securities offering, on the informationalportal, on a real-time basis, one or more of the updated currentindicative clearing price, the established offering price, a quantity ofoffering units subscribed for, a quantity of holders represented by theaccepted orders, price range for substantially all of the acceptedorders, and/or time remaining in the marketing of the associated newissue securities offering.
 71. The system of claim 64, wherein theallocation information generated on the per-order basis is generatedbased on one or more of: an order price, an order entry time, an ordersize, and/or on a pro-rata basis.
 72. The system of claim 64, whereinone or more of the at least one computer associated with at least onelead agent also operates as one of the one or more broker-dealers. 73.The system of claim 72, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 74. The system of claim 64,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 75. The system of claim 1, whereinthe allocation information is generated for a plurality of the acceptedorders giving priority to the accepted orders having timestamps denotingearlier receipt, such that the accepted orders having earlier timestampsare eligible for allocation at a greater percentage (fill rate) orproportion (fill amount) of an order amount than the accepted ordershaving later timestamps.
 76. The system of claim 75 wherein amending anorder assigns said order an updated timestamp for the purpose ofdetermining the allocation for the order.
 77. The system of claim 76,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 78. The system ofclaim 76, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 79. The system of claim 78, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 80. The system of claim 76, whereinthe computer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 81. The system of claim 76, wherein summary informationregarding the accepted orders is displayed, on a real-time basis, on thebroker-dealer portal, until the marketing of the associated new issuesecurities offering concludes; wherein the summary information includesone or more of the updated current indicative clearing price, timeremaining in the marketing of the associated new issue securitiesoffering, quantity of offering units subscribed for, quantity of holdersrepresented by the accepted orders, and/or price range for substantiallyall of the accepted orders.
 82. The system of claim 76, wherein theprogram instructions further include instructions for: publishing, forthe associated new issue securities offering, on the informationalportal, on a real-time basis, one or more of the updated currentindicative clearing price, the established offering price, a quantity ofoffering units subscribed for, a quantity of holders represented by theaccepted orders, price range for substantially all of the acceptedorders, and/or time remaining in the marketing of the associated newissue securities offering.
 83. The system of claim 76, wherein theallocation information generated on the per-order basis is generatedbased on one or more of: an order price, an order entry time, an ordersize, and/or on a pro-rata basis.
 84. The system of claim 76, whereinone or more of the at least one computer associated with at least onelead agent also operates as one of the one or more broker-dealers. 85.The system of claim 84, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 86. The system of claim 76,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 87. The system of claim 75, whereinthe computer platform also operates as one of said at least one leadagents' computers.
 88. The system of claim 75, wherein thecomputer-readable instructions further include instructions for:providing the broker-dealer portal, of the plurality of portals, to oneor more subscribing broker-dealers during the marketing of the one ormore new issue securities offerings and the closing of the one or morenew issue securities offerings, wherein the broker-dealer portal furthercomprises a table of orders, wherein, for each order in the table oforders, the table of orders further comprises data fields including twoor more of a limit price, a number of shares, an order value, accountinformation, and a timestamp generated for each order by the computerplatform.
 89. The system of claim 75, wherein, for the associated newissue securities offering, the real-time offering information furthercomprises one or more of: a current number of shares associated with theaccepted orders, where said accepted orders have a limit price at orhigher than the current indicative clearing price; a current cumulativenumber of shares associated with the accepted orders per respectiveprice level; a current number of holders associated with the acceptedorders where said accepted orders have a limit price at or higher thanthe current indicative clearing price; a current number of holdersassociated with the accepted orders per respective price level; acurrent amount of market value of the accepted orders, where saidaccepted orders have a limit price at or higher than the currentindicative clearing price; and/or an amount of time remaining untiltermination of the marketing of the associated new issue securitiesoffering.
 90. The system of claim 75, wherein at least one orderreceived at the computer platform from the at least one electronic orderrouting and management system includes one or more identifierscontaining origination data.
 91. The system of claim 75, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 92. The system of claim75, wherein the computer platform is further configured to one or bothof: determine that at least one of the one or more orders is disruptive,manipulative or unreliable, and/or exclude said at least one of the oneor more orders determined to be disruptive, manipulative or unreliable.93. The system of claim 75, wherein the first GUI further includes anorder depth graph.
 94. The system of claim 75, wherein the computerplatform further disseminates, at least one of (i) a minimum offeringmetrics at or below which the offering will not be completed, and/or(ii) a maximum offering metrics above which the offering will not beincreased.
 95. The system of claim 94, wherein the at least one of theminimum offering metrics and/or the maximum offering metrics aredisseminated based on at least one of: a number of holders, an offeringprice, an amount of securities to be issued, an amount of assetscollected, and/or an amount of cash proceeds realized by said issuingentity.
 96. The system of claim 75, wherein said plurality of portalsprovide for direct communication between the computer platform and atleast one market maker computer, wherein the at least one market makercomputer, via the computer platform communicates and works with aplurality of broker-dealer computers and at least one lead agentcomputer to create new issues securities against a lead agent order listthat has been created based on at least one final listing.
 97. Thesystem of claim 75, wherein the computer-readable program instructionsfurther include instructions for generating the plurality of portalsprovides for connecting the at least one processor with one or moreinternal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 98. The system of claim 97 wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 99. The system of claim75, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 100. The system of claim 75, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 101. The system ofclaim 75, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, and/or price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 102. Thesystem of claim 75, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 103. Thesystem of claim 75, wherein the one or more new issue securitiesofferings includes at least one of an initial or follow-on securitiesoffering in form of one or more of: collective investment securities,exchange traded funds, managed investment products, debt, taxable debt,tax-exempt debt, equity IPOs, follow-ons, and/or equity offerings. 104.The system of claim 75, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 105. The system of claim 104, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 106. Thesystem of claim 75, wherein the computer-readable program instructionsfurther include instructions for: utilizing, once at least one of theone or more final listings are generated, the computer platform forcommencement of secondary market trading of at least one of the one ormore new issue securities offerings.
 107. The system of claim 75,wherein the one or more new issue securities offerings comprise newissue securities fund offerings, including exchange traded funds (ETFs),with at least one of the new issue securities fund offerings having amarket value that is based upon the current market value of securitiesthat underlie said at least one new issue securities fund offerings,wherein the indicative clearing price is an estimate of an interim netasset value (“iNAV”) of the securities that underlie said at least onenew issue securities fund offerings, and wherein the clearing price isbased on a value of the securities that underlie said at least one newissue securities fund offerings.
 108. The system of claim 107, whereinthe estimate of the interim net asset value is calculated on a periodicbasis and provided by a market data provider.
 109. The system of claim75, wherein a second graphical user interface (second GUI) is provided,via the broker-dealer portal associated with the first portal, to atleast one computer associated with the one or more broker-dealers. 110.The system of claim 109, wherein the second GUI further comprises agraphical user interface button, selection of which on the broker-dealerportal suspends all of the accepted orders, associated with abroker-dealer making said selection.
 111. The system of claim 75,wherein the computer-readable program instructions further includeinstructions for: comparing, prior to acceptance, each of the one ormore orders against an amount, size, condition, and/or requirementestablished as a threshold by the at least one lead agent; andrejecting, any of the each of the one or more orders that fail to meetthe threshold, as not acceptable for further processing by the computerplatform.
 112. The system of claim 111, wherein the threshold comprisesa maximum amount of the order size.
 113. The system of claim 75, whereinthe computer-readable instructions further include instructions for:providing one or both of the allocation information and/or the one ormore final listings as outputs via one or both of the lead agent portaland/or the broker-dealer portal.
 114. The system of claim 76, wherein atleast one of the plurality of portals utilize existing securitiestransaction protocols to transmit electronic data regarding new issuesecurities offering information associated with the one or more newissue securities offerings.
 115. The system of claim 76, wherein thecomputer-readable program instructions further include instructions for:establishing a price for the one or more new issue securities offeringsand a level of investor interest via: (i) providing, via thebroker-dealer portal during the marketing of the one or more new issuesecurities offerings, equal access to offerings and information to theone or more broker-dealers; (ii) providing, via the informational portalduring the marketing of the one or more new issue securities offerings,equal access to offerings and information to entities accessing theinformational portal; and (iii) establishing, via the first portal, acommunication channel between the computer platform and the one or morebroker-dealers, wherein the communication channel uses protocols thatconnect broker-dealers to existing stock exchanges for secondary markettrading orders to also provide for participation in new issue offerings,to thereby expand infrastructure used for secondary market tradingorders to further include distribution of the one or more new issuesecurities offerings.
 116. The system of claim 76, wherein the computerplatform is configured to: perform demand discovery.
 117. The system ofclaim 76, wherein the computer platform is configured to: perform pricediscovery.
 118. The system of claim 76, wherein the one or more ordersare comprised of two or more of: at least one new order, at least oneorder amendment, and/or at least one order cancellation.
 119. The systemof claim 76, wherein the first portal is a secure electronic portal thatallows the one or more broker-dealers to access its respective data andinformation securely.
 120. The system of claim 76, wherein the secondportal is a secure electronic portal that allows the at least one leadagent to access its respective data and information securely.
 121. Thesystem of claim 1, wherein the first GUI further includes an order depthgraph.
 122. The system of claim 121, wherein the computer platform isconfigured to: assemble the one or more orders directly from the one ormore broker-dealers.
 123. The system of claim 121, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 124. The system of claim 123, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 125. The system of claim 121, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 126. The system of claim 121, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 127. The system ofclaim 121, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 128. Thesystem of claim 121, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 129. Thesystem of claim 121, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 130. The system of claim 129, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 131. Thesystem of claim 121, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 132. The system of claim1, wherein the computer platform further disseminates, at least one of(i) a minimum offering metrics at or below which the offering will notbe completed, and/or (ii) a maximum offering metrics above which theoffering will not be increased.
 133. The system of claim 132, whereinthe at least one of the minimum offering metrics and/or the maximumoffering metrics are disseminated based on at least one of: a number ofholders, an offering price, an amount of securities to be issued, anamount of assets collected, and/or an amount of cash proceeds realizedby said issuing entity.
 134. The system of claim 132, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 135. The system of claim132, wherein the computer-readable program instructions further includeinstructions for generating the plurality of portals provides forconnecting the at least one processor with one or more internal orderrouting and management systems of the one or more broker-dealers, suchthat the computer platform is configured for direct communication withthe one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 136. The system of claim 135, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 137. The system of claim 132,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 138. The system of claim 132, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 139. The system ofclaim 132, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 140. Thesystem of claim 132, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 141. Thesystem of claim 132, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 142. The system of claim 141, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 143. Thesystem of claim 132, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 144. The system of claim1, wherein said plurality of portals provide for direct communicationbetween the computer platform and at least one market maker computer,wherein the at least one market maker computer, via the computerplatform communicates and works with a plurality of broker-dealercomputers and at least one lead agent computer to create new issuessecurities against a lead agent order list that has been created basedon at least one final listing.
 145. The system of claim 144, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 146. The system of claim144, wherein the computer-readable program instructions further includeinstructions for generating the plurality of portals provides forconnecting the at least one processor with one or more internal orderrouting and management systems of the one or more broker-dealers, suchthat the computer platform is configured for direct communication withthe one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 147. The system of claim 146, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 148. The system of claim 144,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 149. The system of claim 144, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 150. The system ofclaim 144, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 151. Thesystem of claim 144, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 152. Thesystem of claim 144, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 153. The system of claim 152, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 154. Thesystem of claim 144, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 155. The system of claim1, wherein the computer-readable program instructions further includeinstructions for generating the plurality of portals provides forconnecting the at least one processor with one or more internal orderrouting and management systems of the one or more broker-dealers, suchthat the computer platform is configured for direct communication withthe one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 156. The system of claim 155, wherein the computerplatform is configured to: assemble the one or more orders directly fromthe one or more broker-dealers.
 157. The system of claim 155, whereinthe computer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 158. The system of claim 155, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 159. The system ofclaim 155, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 160. Thesystem of claim 155, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 161. Thesystem of claim 155, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 162. The system of claim 161, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 163. Thesystem of claim 155, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 164. The system of claim155, wherein the existing order routing and/or management protocolsinclude Financial Information eXchange protocols (FIX protocols). 165.The system of claim 164, wherein the computer platform is configured to:assemble the one or more orders directly from the one or morebroker-dealers.
 166. The system of claim 164, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 167. The system of claim 164, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 168. The system ofclaim 164, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 169. Thesystem of claim 164, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 170. Thesystem of claim 164, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 171. The system of claim 170, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 172. Thesystem of claim 164, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 173. The system of claim1, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 174. The system of claim 173, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 175. The system of claim173, wherein the computer-readable program instructions further includeinstructions for generating the plurality of portals provides forconnecting the at least one processor with one or more internal orderrouting and management systems of the one or more broker-dealers, suchthat the computer platform is configured for direct communication withthe one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 176. The system of claim 175, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 177. The system of claim 173,wherein summary information regarding the accepted orders is displayed,on a real-time basis, on the broker-dealer portal, until the marketingof the associated new issue securities offering concludes; wherein thesummary information includes one or more of the updated currentindicative clearing price, time remaining in the marketing of theassociated new issue securities offering, quantity of offering unitssubscribed for, quantity of holders represented by the accepted orders,and/or price range for substantially all of the accepted orders. 178.The system of claim 173, wherein the program instructions furtherinclude instructions for: publishing, for the associated new issuesecurities offering, on the informational portal, on a real-time basis,one or more of the updated current indicative clearing price, theestablished offering price, a quantity of offering units subscribed for,a quantity of holders represented by the accepted orders, price rangefor substantially all of the accepted orders, and/or time remaining inthe marketing of the associated new issue securities offering.
 179. Thesystem of claim 173, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 180. Thesystem of claim 173, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 181. The system of claim 180, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 182. Thesystem of claim 173, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 183. The system of claim1, wherein the allocation information generated on the per-order basisis generated based on one or more of: an order price, an order entrytime, an order size, and/or on a pro-rata basis.
 184. The system ofclaim 183, wherein the computer platform is configured to: assemble theone or more orders directly from the one or more broker-dealers. 185.The system of claim 183, wherein the computer-readable programinstructions further include instructions for generating the pluralityof portals provides for connecting the at least one processor with oneor more internal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 186. The system of claim 185, wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 187. The system of claim183, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 188. The system of claim 183, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 189. The system ofclaim 183, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 190. Thesystem of claim 183, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 191. The system of claim 190, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 192. Thesystem of claim 183, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 193. The system of claim1, wherein the one or more new issue securities offerings includes atleast one of an initial or follow-on securities offering in form of oneor more of: collective investment securities, exchange traded funds,managed investment products, debt, taxable debt, tax-exempt debt, equityIPOs, follow-ons, and/or equity offerings.
 194. The system of claim 193,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 195. The system ofclaim 193, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 196. The system of claim 195, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 197. The system of claim 193,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 198. The system of claim 193, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 199. The system ofclaim 193, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 200. Thesystem of claim 193, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 201. Thesystem of claim 193, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 202. The system of claim 201, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 203. Thesystem of claim 193, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 204. The system of claim1, wherein one or more of the at least one computer associated with atleast one lead agent also operates as one of the one or morebroker-dealers.
 205. The system of claim 204, wherein the computerplatform also operates as one of said at least one lead agents'computers.
 206. The system of claim 204, wherein the computer-readableinstructions further include instructions for: providing thebroker-dealer portal, of the plurality of portals, to one or moresubscribing broker-dealers during the marketing of the one or more newissue securities offerings and the closing of the one or more new issuesecurities offerings, wherein the broker-dealer portal further comprisesa table of orders, wherein, for each order in the table of orders, thetable of orders further comprises data fields including two or more of alimit price, a number of shares, an order value, account information,and a timestamp generated for each order by the computer platform. 207.The system of claim 204, wherein, for the associated new issuesecurities offering, the real-time offering information furthercomprises one or more of: a current number of shares associated with theaccepted orders, where said accepted orders have a limit price at orhigher than the current indicative clearing price; a current cumulativenumber of shares associated with the accepted orders per respectiveprice level; a current number of holders associated with the acceptedorders where said accepted orders have a limit price at or higher thanthe current indicative clearing price; a current number of holdersassociated with the accepted orders per respective price level; acurrent amount of market value of the accepted orders, where saidaccepted orders have a limit price at or higher than the currentindicative clearing price; and/or an amount of time remaining untiltermination of the marketing of the associated new issue securitiesoffering.
 208. The system of claim 204, wherein at least one orderreceived at the computer platform from the at least one electronic orderrouting and management system includes one or more identifierscontaining origination data.
 209. The system of claim 204, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 210. The system of claim204, wherein the computer platform is further configured to one or bothof: determine that at least one of the one or more orders is disruptive,manipulative or unreliable, and/or exclude said at least one of the oneor more orders determined to be disruptive, manipulative or unreliable.211. The system of claim 204, wherein the first GUI further includes anorder depth graph.
 212. The system of claim 204, wherein the computerplatform further disseminates, at least one of (i) a minimum offeringmetrics at or below which the offering will not be completed, and/or(ii) a maximum offering metrics above which the offering will not beincreased.
 213. The system of claim 212, wherein the at least one of theminimum offering metrics and/or the maximum offering metrics aredisseminated based on at least one of: a number of holders, an offeringprice, an amount of securities to be issued, an amount of assetscollected, and/or an amount of cash proceeds realized by said issuingentity.
 214. The system of claim 204, wherein said plurality of portalsprovide for direct communication between the computer platform and atleast one market maker computer, wherein the at least one market makercomputer, via the computer platform communicates and works with aplurality of broker-dealer computers and at least one lead agentcomputer to create new issues securities against a lead agent order listthat has been created based on at least one final listing.
 215. Thesystem of claim 204, wherein the computer-readable program instructionsfurther include instructions for generating the plurality of portalsprovides for connecting the at least one processor with one or moreinternal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 216. The system of claim 215 wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 217. The system of claim204, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 218. The system of claim 204, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 219. The system ofclaim 204, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 220. Thesystem of claim 204, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 221. Thesystem of claim 204, wherein the one or more new issue securitiesofferings includes at least one of an initial or follow-on securitiesoffering in form of one or more of: collective investment securities,exchange traded funds, managed investment products, debt, taxable debt,tax-exempt debt, equity IPOs, follow-ons, and/or equity offerings. 222.The system of claim 204, wherein the computer-readable programinstructions further include instructions for: utilizing, once at leastone of the one or more final listings are generated, the computerplatform for commencement of secondary market trading of at least one ofthe one or more new issue securities offerings.
 223. The system of claim204, wherein the one or more new issue securities offerings comprise newissue securities fund offerings, including exchange traded funds (ETFs),with at least one of the new issue securities fund offerings having amarket value that is based upon the current market value of securitiesthat underlie said at least one new issue securities fund offerings,wherein the indicative clearing price is an estimate of an interim netasset value (“iNAV”) of the securities that underlie said at least onenew issue securities fund offerings, and wherein the clearing price isbased on a value of the securities that underlie said at least one newissue securities fund offerings.
 224. The system of claim 223, whereinthe estimate of the interim net asset value is calculated on a periodicbasis and provided by a market data provider.
 225. The system of claim204, wherein a second graphical user interface (second GUI) is provided,via the broker-dealer portal associated with the first portal, to atleast one computer associated with the one or more broker-dealers. 226.The system of claim 225, wherein the second GUI further comprises agraphical user interface button, selection of which on the broker-dealerportal suspends one or more orders associated with a broker-dealer,suspends one or more orders associated with a particular offering, orsuspends all of the accepted orders, associated with a broker-dealermaking said selection.
 227. The system of claim 204, wherein thecomputer-readable program instructions further include instructions for:comparing, prior to acceptance, each of the one or more orders againstan amount, size, condition, and/or requirement established as athreshold by the at least one lead agent; and rejecting, any of the eachof the one or more orders that fail to meet the threshold, as notacceptable for further processing by the computer platform.
 228. Thesystem of claim 227, wherein the threshold comprises a maximum amount ofthe order size.
 229. The system of claim 204, wherein thecomputer-readable instructions further include instructions for:providing one or both of the allocation information and/or the one ormore final listings as outputs via one or both of the lead agent portaland/or the broker-dealer portal.
 230. The system of claim 204, whereinat least one of the plurality of portals utilize existing securitiestransaction protocols to transmit electronic data regarding new issuesecurities offering information associated with the one or more newissue securities offerings.
 231. The system of claim 204, wherein thecomputer-readable program instructions further include instructions for:establishing a price for the one or more new issue securities offeringsand a level of investor interest via: (i) providing, via thebroker-dealer portal during the marketing of the one or more new issuesecurities offerings, equal access to offerings and information to theone or more broker-dealers; (ii) providing, via the informational portalduring the marketing of the one or more new issue securities offerings,equal access to offerings and information to entities accessing theinformational portal; and (iii) establishing, via the first portal, acommunication channel between the computer platform and the one or morebroker-dealers, wherein the communication channel uses protocols thatconnect broker-dealers to existing stock exchanges for secondary markettrading orders to also provide for participation in new issue offerings,to thereby expand infrastructure used for secondary market tradingorders to further include distribution of the one or more new issuesecurities offerings.
 232. The system of claim 204, wherein the computerplatform is configured to: perform demand discovery.
 233. The system ofclaim 204, wherein the computer platform is configured to: perform pricediscovery.
 234. The system of claim 204, wherein the one or more ordersare comprised of two or more of: at least one new order, at least oneorder amendment, and/or at least one order cancellation.
 235. The systemof claim 204, wherein the first portal is a secure electronic portalthat allows the one or more broker-dealers to access its respective dataand information securely.
 236. The system of claim 204, wherein thesecond portal is a secure electronic portal that allows the at least onelead agent to access its respective data and information securely. 237.The system of claim 204, wherein the second portal provided to one ormore of the at least one computer associated with at least one leadagent also operates as the first portal.
 238. The system of claim 237,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 239. The system ofclaim 237, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 240. The system of claim 239, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 241. The system of claim 237,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 242. The system of claim 237, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 243. The system ofclaim 237, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 244. Thesystem of claim 237, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 245. Thesystem of claim 237, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 246. The system of claim1, wherein the computer-readable program instructions further includeinstructions for: utilizing, once at least one of the one or more finallistings are generated, the computer platform for commencement ofsecondary market trading of at least one of the one or more new issuesecurities offerings.
 247. The system of claim 246, wherein the computerplatform is configured to: assemble the one or more orders directly fromthe one or more broker-dealers.
 248. The system of claim 246, whereinthe computer-readable program instructions further include instructionsfor generating the plurality of portals provides for connecting the atleast one processor with one or more internal order routing andmanagement systems of the one or more broker-dealers, such that thecomputer platform is configured for direct communication with the one ormore internal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 249. The system of claim 248, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 250. The system of claim 246, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 251. The system of claim 246, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 252. The system ofclaim 246, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 253. Thesystem of claim 246, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 254. Thesystem of claim 246, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 255. The system of claim 254, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 256. Thesystem of claim 246, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 257. The system of claim1, wherein the one or more new issue securities offerings comprise newissue securities fund offerings, including exchange traded funds (ETFs),with at least one of the new issue securities fund offerings having amarket value that is based upon the current market value of securitiesthat underlie said at least one new issue securities fund offerings,wherein the indicative clearing price is an estimate of an interim netasset value (“iNAV”) of the securities that underlie said at least onenew issue securities fund offerings, and wherein the clearing price isbased on a value of the securities that underlie said at least one newissue securities fund offerings.
 258. The system of claim 257, whereinthe estimate of the interim net asset value is calculated on a periodicbasis and provided by a market data provider.
 259. The system of claim257, wherein the computer platform is configured to: assemble the one ormore orders directly from the one or more broker-dealers.
 260. Thesystem of claim 257, wherein the computer-readable program instructionsfurther include instructions for generating the plurality of portalsprovides for connecting the at least one processor with one or moreinternal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 261. The system of claim 260, wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 262. The system of claim257, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 263. The system of claim 257, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 264. The system ofclaim 257, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 265. Thesystem of claim 257, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 266. Thesystem of claim 257, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 267. The system of claim 266, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 268. Thesystem of claim 257, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 269. The system of claim1, wherein a second graphical user interface (second GUI) is provided,via the broker-dealer portal associated with the first portal, to atleast one computer associated with the one or more broker-dealers. 270.The system of claim 269, wherein the second GUI further comprises agraphical user interface button, selection of which on the broker-dealerportal suspends all of the accepted orders, associated with abroker-dealer making said selection.
 271. The system of claim 269,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 272. The system ofclaim 269, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 273. The system of claim 272, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 274. The system of claim 269,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 275. The system of claim 269, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 276. The system ofclaim 269, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 277. Thesystem of claim 269, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 278. Thesystem of claim 269, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 279. The system of claim 278, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 280. Thesystem of claim 269, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 281. The system of claim1, wherein the computer-readable program instructions further includeinstructions for: comparing, prior to acceptance, each of the one ormore orders against an amount, size, condition, and/or requirementestablished as a threshold by the at least one lead agent; andrejecting, any of the each of the one or more orders that fail to meetthe threshold, as not acceptable for further processing by the computerplatform.
 282. The system of claim 281, wherein the threshold comprisesa maximum amount of the order size.
 283. The system of claim 281,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 284. The system ofclaim 281, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 285. The system of claim 284, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 286. The system of claim 281,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 287. The system of claim 281, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 288. The system ofclaim 281, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 289. Thesystem of claim 281, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 290. Thesystem of claim 281, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 291. The system of claim 290, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 292. Thesystem of claim 281, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 293. The system of claim1, wherein the computer-readable instructions further includeinstructions for: providing one or both of the allocation informationand/or the one or more final listings as outputs via one or both of thelead agent portal and/or the broker-dealer portal.
 294. The system ofclaim 293, wherein the computer platform is configured to: assemble theone or more orders directly from the one or more broker-dealers. 295.The system of claim 293, wherein the computer-readable programinstructions further include instructions for generating the pluralityof portals provides for connecting the at least one processor with oneor more internal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 296. The system of claim 295, wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 297. The system of claim293, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 298. The system of claim 293, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 299. The system ofclaim 293, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 300. Thesystem of claim 293, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 301. Thesystem of claim 293, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 302. The system of claim 301, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 303. Thesystem of claim 293, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 304. The system of claim1, wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 305. The system of claim 304,wherein the computer platform is configured to: assemble the one or moreorders directly from the one or more broker-dealers.
 306. The system ofclaim 304, wherein the computer-readable program instructions furtherinclude instructions for generating the plurality of portals providesfor connecting the at least one processor with one or more internalorder routing and management systems of the one or more broker-dealers,such that the computer platform is configured for direct communicationwith the one or more internal order routing and management systems usingexisting order routing and/or management protocols for order submissionand for communicating subsequent information regarding status of theorders placed.
 307. The system of claim 306, wherein the existing orderrouting and/or management protocols include Financial InformationeXchange protocols (FIX protocols).
 308. The system of claim 304,wherein the computer-readable instructions further include instructionsfor connecting the at least one processor with at least one existingorder routing and management system of at least one of the one or morebroker-dealers.
 309. The system of claim 304, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 310. The system ofclaim 304, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 311. Thesystem of claim 304, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 312. Thesystem of claim 304, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 313. The system of claim 312, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 314. Thesystem of claim 1, wherein the computer-readable program instructionsfurther include instructions for: establishing a price for the one ormore new issue securities offerings and a level of investor interestvia: (i) providing, via the broker-dealer portal during the marketing ofthe one or more new issue securities offerings, equal access toofferings and information to the one or more broker-dealers; (ii)providing, via the informational portal during the marketing of the oneor more new issue securities offerings, equal access to offerings andinformation to entities accessing the informational portal; and (iii)establishing, via the first portal, a communication channel between thecomputer platform and the one or more broker-dealers, wherein thecommunication channel uses protocols that connect broker-dealers toexisting stock exchanges for secondary market trading orders to alsoprovide for participation in new issue offerings, to thereby expandinfrastructure used for secondary market trading orders to furtherinclude distribution of the one or more new issue securities offerings.315. The system of claim 314, wherein the computer platform isconfigured to: assemble the one or more orders directly from the one ormore broker-dealers.
 316. The system of claim 314, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 317. The system of claim 316, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 318. The system of claim 314, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 319. The system of claim 314, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 320. The system ofclaim 314, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 321. Thesystem of claim 314, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 322. Thesystem of claim 314, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 323. The system of claim 322, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 324. Thesystem of claim 314, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 325. The system of claim1, wherein the computer platform is configured to: perform demanddiscovery.
 326. The system of claim 325, wherein the computer platformis configured to: assemble the one or more orders directly from the oneor more broker-dealers.
 327. The system of claim 325, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 328. The system of claim 327, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 329. The system of claim 325, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 330. The system of claim 325, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 331. The system ofclaim 325, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 332. Thesystem of claim 325, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 333. Thesystem of claim 325, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 334. The system of claim 333, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 335. Thesystem of claim 325, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 336. The system of claim1, wherein the computer platform is configured to: perform pricediscovery.
 337. The system of claim 336, wherein the computer platformis configured to: assemble the one or more orders directly from the oneor more broker-dealers.
 338. The system of claim 336, wherein thecomputer-readable program instructions further include instructions forgenerating the plurality of portals provides for connecting the at leastone processor with one or more internal order routing and managementsystems of the one or more broker-dealers, such that the computerplatform is configured for direct communication with the one or moreinternal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 339. The system of claim 338, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 340. The system of claim 336, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 341. The system of claim 336, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 342. The system ofclaim 336, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 343. Thesystem of claim 336, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 344. Thesystem of claim 336, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 345. The system of claim 344, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 346. Thesystem of claim 336, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 347. The system of claim1, wherein the one or more orders are comprised of two or more of: atleast one new order, at least one order amendment, and/or at least oneorder cancellation.
 348. The system of claim 347, wherein the computerplatform is configured to: assemble the one or more orders directly fromthe one or more broker-dealers.
 349. The system of claim 347, whereinthe computer-readable program instructions further include instructionsfor generating the plurality of portals provides for connecting the atleast one processor with one or more internal order routing andmanagement systems of the one or more broker-dealers, such that thecomputer platform is configured for direct communication with the one ormore internal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 350. The system of claim 349, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 351. The system of claim 347, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 352. The system of claim 347, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 353. The system ofclaim 347, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 354. Thesystem of claim 347, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 355. Thesystem of claim 347, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 356. The system of claim 355, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 357. Thesystem of claim 347, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 358. The system of claim1, wherein the first portal is a secure electronic portal that allowsthe one or more broker-dealers to access its respective data andinformation securely.
 359. The system of claim 358, wherein the computerplatform is configured to: assemble the one or more orders directly fromthe one or more broker-dealers.
 360. The system of claim 358, whereinthe computer-readable program instructions further include instructionsfor generating the plurality of portals provides for connecting the atleast one processor with one or more internal order routing andmanagement systems of the one or more broker-dealers, such that thecomputer platform is configured for direct communication with the one ormore internal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 361. The system of claim 360, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 362. The system of claim 358, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 363. The system of claim 358, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 364. The system ofclaim 358, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 365. Thesystem of claim 358, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 366. Thesystem of claim 358, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 367. The system of claim 366, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 368. Thesystem of claim 358, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 369. The system of claim1, wherein the second portal is a secure electronic portal that allowsthe at least one lead agent to access its respective data andinformation securely.
 370. The system of claim 369, wherein the computerplatform is configured to: assemble the one or more orders directly fromthe one or more broker-dealers.
 371. The system of claim 369, whereinthe computer-readable program instructions further include instructionsfor generating the plurality of portals provides for connecting the atleast one processor with one or more internal order routing andmanagement systems of the one or more broker-dealers, such that thecomputer platform is configured for direct communication with the one ormore internal order routing and management systems using existing orderrouting and/or management protocols for order submission and forcommunicating subsequent information regarding status of the ordersplaced.
 372. The system of claim 371, wherein the existing order routingand/or management protocols include Financial Information eXchangeprotocols (FIX protocols).
 373. The system of claim 369, wherein thecomputer-readable instructions further include instructions forconnecting the at least one processor with at least one existing orderrouting and management system of at least one of the one or morebroker-dealers.
 374. The system of claim 369, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 375. The system ofclaim 369, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 376. Thesystem of claim 369, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 377. Thesystem of claim 369, wherein one or more of the at least one computerassociated with at least one lead agent also operates as one of the oneor more broker-dealers.
 378. The system of claim 377, wherein the secondportal provided to one or more of the at least one computer associatedwith at least one lead agent also operates as the first portal.
 379. Thesystem of claim 369, wherein at least one of the plurality of portalsutilize existing securities transaction protocols to transmit electronicdata regarding new issue securities offering information associated withthe one or more new issue securities offerings.
 380. The system of claim1, wherein the computer platform also operates as one of said at leastone lead agents' computers.
 381. The system of claim 380, wherein thecomputer-readable instructions further include instructions for:providing the broker-dealer portal, of the plurality of portals, to oneor more subscribing broker-dealers during the marketing of the one ormore new issue securities offerings and the closing of the one or morenew issue securities offerings, wherein the broker-dealer portal furthercomprises a table of orders, wherein, for each order in the table oforders, the table of orders further comprises data fields including twoor more of a limit price, a number of shares, an order value, accountinformation, and a timestamp generated for each order by the computerplatform.
 382. The system of claim 380, wherein, for the associated newissue securities offering, the real-time offering information furthercomprises one or more of: a current number of shares associated with theaccepted orders, where said accepted orders have a limit price at orhigher than the current indicative clearing price; a current cumulativenumber of shares associated with the accepted orders per respectiveprice level; a current number of holders associated with the acceptedorders where said accepted orders have a limit price at or higher thanthe current indicative clearing price; a current number of holdersassociated with the accepted orders per respective price level; acurrent amount of market value of the accepted orders, where saidaccepted orders have a limit price at or higher than the currentindicative clearing price; and/or an amount of time remaining untiltermination of the marketing of the associated new issue securitiesoffering.
 383. The system of claim 380, wherein at least one orderreceived at the computer platform from the at least one electronic orderrouting and management system includes one or more identifierscontaining origination data.
 384. The system of claim 380, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 385. The system of claim380, wherein the computer platform is further configured to one or bothof: determine that at least one of the one or more orders is disruptive,manipulative or unreliable, and/or exclude said at least one of the oneor more orders determined to be disruptive, manipulative or unreliable.386. The system of claim 380, wherein the first GUI further includes anorder depth graph.
 387. The system of claim 380, wherein the computerplatform further disseminates, at least one of (i) a minimum offeringmetrics at or below which the offering will not be completed, and/or(ii) a maximum offering metrics above which the offering will not beincreased.
 388. The system of claim 387, wherein the at least one of theminimum offering metrics and/or the maximum offering metrics aredisseminated based on at least one of: a number of holders, an offeringprice, an amount of securities to be issued, an amount of assetscollected, and/or an amount of cash proceeds realized by said issuingentity.
 389. The system of claim 380, wherein said plurality of portalsprovide for direct communication between the computer platform and atleast one market maker computer, wherein the at least one market makercomputer, via the computer platform communicates and works with aplurality of broker-dealer computers and at least one lead agentcomputer to create new issues securities against a lead agent order listthat has been created based on at least one final listing.
 390. Thesystem of claim 380, wherein the computer-readable program instructionsfurther include instructions for generating the plurality of portalsprovides for connecting the at least one processor with one or moreinternal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 391. The system of claim 390 wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 392. The system of claim380, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 393. The system of claim 380, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 394. The system ofclaim 380, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 395. Thesystem of claim 380, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 396. Thesystem of claim 380, wherein the one or more new issue securitiesofferings includes at least one of an initial or follow-on securitiesoffering in form of one or more of: collective investment securities,exchange traded funds, managed investment products, debt, taxable debt,tax-exempt debt, equity IPOs, follow-ons, and/or equity offerings. 397.The system of claim 380, wherein one or more of the at least onecomputer associated with at least one lead agent also operates as one ofthe one or more broker-dealers.
 398. The system of claim 397, whereinthe second portal provided to one or more of the at least one computerassociated with at least one lead agent also operates as the firstportal.
 399. The system of claim 397, wherein the computer-readableinstructions further include instructions for: providing thebroker-dealer portal, of the plurality of portals, to one or moresubscribing broker-dealers during the marketing of the one or more newissue securities offerings and the closing of the one or more new issuesecurities offerings, wherein the broker-dealer portal further comprisesa table of orders, wherein, for each order in the table of orders, thetable of orders further comprises data fields including two or more of alimit price, a number of shares, an order value, account information,and a timestamp generated for each order by the computer platform. 400.The system of claim 397, wherein, for the associated new issuesecurities offering, the real-time offering information furthercomprises one or more of: a current number of shares associated with theaccepted orders, where said accepted orders have a limit price at orhigher than the current indicative clearing price; a current cumulativenumber of shares associated with the accepted orders per respectiveprice level; a current number of holders associated with the acceptedorders where said accepted orders have a limit price at or higher thanthe current indicative clearing price; a current number of holdersassociated with the accepted orders per respective price level; acurrent amount of market value of the accepted orders, where saidaccepted orders have a limit price at or higher than the currentindicative clearing price; and/or an amount of time remaining untiltermination of the marketing of the associated new issue securitiesoffering.
 401. The system of claim 397, wherein at least one orderreceived at the computer platform from the at least one electronic orderrouting and management system includes one or more identifierscontaining origination data.
 402. The system of claim 397, wherein thecomputer platform is configured to: assemble the one or more ordersdirectly from the one or more broker-dealers.
 403. The system of claim397, wherein the computer platform is further configured to one or bothof: determine that at least one of the one or more orders is disruptive,manipulative or unreliable, and/or exclude said at least one of the oneor more orders determined to be disruptive, manipulative or unreliable.404. The system of claim 397, wherein the first GUI further includes anorder depth graph.
 405. The system of claim 397, wherein the computerplatform further disseminates, at least one of (i) a minimum offeringmetrics at or below which the offering will not be completed, and/or(ii) a maximum offering metrics above which the offering will not beincreased.
 406. The system of claim 405, wherein the at least one of theminimum offering metrics and/or the maximum offering metrics aredisseminated based on at least one of: a number of holders, an offeringprice, an amount of securities to be issued, an amount of assetscollected, and/or an amount of cash proceeds realized by said issuingentity.
 407. The system of claim 397, wherein said plurality of portalsprovide for direct communication between the computer platform and atleast one market maker computer, wherein the at least one market makercomputer, via the computer platform communicates and works with aplurality of broker-dealer computers and at least one lead agentcomputer to create new issues securities against a lead agent order listthat has been created based on at least one final listing.
 408. Thesystem of claim 397, wherein the computer-readable program instructionsfurther include instructions for generating the plurality of portalsprovides for connecting the at least one processor with one or moreinternal order routing and management systems of the one or morebroker-dealers, such that the computer platform is configured for directcommunication with the one or more internal order routing and managementsystems using existing order routing and/or management protocols fororder submission and for communicating subsequent information regardingstatus of the orders placed.
 409. The system of claim 408 wherein theexisting order routing and/or management protocols include FinancialInformation eXchange protocols (FIX protocols).
 410. The system of claim397, wherein the computer-readable instructions further includeinstructions for connecting the at least one processor with at least oneexisting order routing and management system of at least one of the oneor more broker-dealers.
 411. The system of claim 397, wherein summaryinformation regarding the accepted orders is displayed, on a real-timebasis, on the broker-dealer portal, until the marketing of theassociated new issue securities offering concludes; wherein the summaryinformation includes one or more of the updated current indicativeclearing price, time remaining in the marketing of the associated newissue securities offering, quantity of offering units subscribed for,quantity of holders represented by the accepted orders, and/or pricerange for substantially all of the accepted orders.
 412. The system ofclaim 397, wherein the program instructions further include instructionsfor: publishing, for the associated new issue securities offering, onthe informational portal, on a real-time basis, one or more of theupdated current indicative clearing price, the established offeringprice, a quantity of offering units subscribed for, a quantity ofholders represented by the accepted orders, price range forsubstantially all of the accepted orders, and/or time remaining in themarketing of the associated new issue securities offering.
 413. Thesystem of claim 397, wherein the allocation information generated on theper-order basis is generated based on one or more of: an order price, anorder entry time, an order size, and/or on a pro-rata basis.
 414. Thesystem of claim 397, wherein the one or more new issue securitiesofferings includes at least one of an initial or follow-on securitiesoffering in form of one or more of: collective investment securities,exchange traded funds, managed investment products, debt, taxable debt,tax-exempt debt, equity IPOs, follow-ons, and/or equity offerings. 415.The system of claim 397, wherein one or more of the at least onecomputer associated with at least one lead agent also operates as one ofthe one or more broker-dealers.
 416. The system of claim 415, whereinthe second portal provided to one or more of the at least one computerassociated with at least one lead agent also operates as the firstportal.
 417. The system of claim 415, wherein the one or more new issuesecurities offerings comprise new issue securities fund offerings,including exchange traded funds (ETFs), with at least one of the newissue securities fund offerings having a market value that is based uponthe current market value of securities that underlie said at least onenew issue securities fund offerings, wherein the indicative clearingprice is an estimate of an interim net asset value (“iNAV”) of thesecurities that underlie said at least one new issue securities fundofferings, and wherein the clearing price is based on a value of thesecurities that underlie said at least one new issue securities fundofferings.
 418. The system of claim 415, wherein a second graphical userinterface (second GUI) is provided, via the broker-dealer portalassociated with the first portal, to at least one computer associatedwith the one or more broker-dealers.
 419. The system of claim 418,wherein the second GUI further comprises a graphical user interfacebutton, selection of which on the broker-dealer portal suspends all ofthe accepted orders, associated with a broker-dealer making saidselection.
 420. The system of claim 415, wherein the computer-readableprogram instructions further include instructions for: comparing, priorto acceptance, each of the one or more orders against an amount, size,condition, and/or requirement established as a threshold by the at leastone lead agent; and rejecting, any of the each of the one or more ordersthat fail to meet the threshold, as not acceptable for furtherprocessing by the computer platform.
 421. The system of claim 420,wherein the threshold comprises a maximum amount of the order size. 422.The system of claim 415, wherein the computer-readable instructionsfurther include instructions for: providing one or both of theallocation information and/or the one or more final listings as outputsvia one or both of the lead agent portal and/or the broker-dealerportal.
 423. The system of claim 415, wherein at least one of theplurality of portals utilize existing securities transaction protocolsto transmit electronic data regarding new issue securities offeringinformation associated with the one or more new issue securitiesofferings.
 424. The system of claim 415, wherein the computer-readableprogram instructions further include instructions for: establishing aprice for the one or more new issue securities offerings and a level ofinvestor interest via: (i) providing, via the broker-dealer portalduring the marketing of the one or more new issue securities offerings,equal access to offerings and information to the one or morebroker-dealers; (ii) providing, via the informational portal during themarketing of the one or more new issue securities offerings, equalaccess to offerings and information to entities accessing theinformational portal; and (iii) establishing, via the first portal, acommunication channel between the computer platform and the one or morebroker-dealers, wherein the communication channel uses protocols thatconnect broker-dealers to existing stock exchanges for secondary markettrading orders to also provide for participation in new issue offerings,to thereby expand infrastructure used for secondary market tradingorders to further include distribution of the one or more new issuesecurities offerings.
 425. The system of claim 415, wherein the computerplatform is configured to: perform demand discovery.
 426. The system ofclaim 415, wherein the computer platform is configured to: perform pricediscovery.
 427. The system of claim 415, wherein the one or more ordersare comprised of two or more of: at least one new order, at least oneorder amendment, and/or at least one order cancellation.
 428. The systemof claim 415, wherein the first portal is a secure electronic portalthat allows the one or more broker-dealers to access its respective dataand information securely.
 429. The system of claim 415, wherein thesecond portal is a secure electronic portal that allows the at least onelead agent to access its respective data and information securely. 430.The system of claim 415, wherein the computer-readable programinstructions further include instructions for: utilizing, once at leastone of the one or more final listings are generated, the computerplatform for commencement of secondary market trading of at least one ofthe one or more new issue securities offerings.
 431. The system of claim415, wherein the one or more new issue securities offerings comprise newissue securities fund offerings, including exchange traded funds (ETFs),with at least one of the new issue securities fund offerings having amarket value that is based upon the current market value of securitiesthat underlie said at least one new issue securities fund offerings,wherein the indicative clearing price is an estimate of an interim netasset value (“iNAV”) of the securities that underlie said at least onenew issue securities fund offerings, and wherein the clearing price isbased on a value of the securities that underlie said at least one newissue securities fund offerings.
 432. The system of claim 431, whereinthe estimate of the interim net asset value is calculated on a periodicbasis and provided by a market data provider.
 433. The system of claim415, wherein a second graphical user interface (second GUI) is provided,via the broker-dealer portal associated with the first portal, to atleast one computer associated with the one or more broker-dealers. 434.The system of claim 433, wherein the second GUI further comprises agraphical user interface button, selection of which on the broker-dealerportal suspends all of the accepted orders, associated with abroker-dealer making said selection.
 435. The system of claim 415,wherein the computer-readable program instructions further includeinstructions for: comparing, prior to acceptance, each of the one ormore orders against an amount, size, condition, and/or requirementestablished as a threshold by the at least one lead agent; andrejecting, any of the each of the one or more orders that fail to meetthe threshold, as not acceptable for further processing by the computerplatform.
 436. The system of claim 435, wherein the threshold comprisesa maximum amount of the order size.
 437. The system of claim 415,wherein the computer-readable instructions further include instructionsfor: providing one or both of the allocation information and/or the oneor more final listings as outputs via one or both of the lead agentportal and/or the broker-dealer portal.
 438. The system of claim 415,wherein at least one of the plurality of portals utilize existingsecurities transaction protocols to transmit electronic data regardingnew issue securities offering information associated with the one ormore new issue securities offerings.
 439. The system of claim 415,wherein the computer-readable program instructions further includeinstructions for: establishing a price for the one or more new issuesecurities offerings and a level of investor interest via: (i)providing, via the broker-dealer portal during the marketing of the oneor more new issue securities offerings, equal access to offerings andinformation to the one or more broker-dealers; (ii) providing, via theinformational portal during the marketing of the one or more new issuesecurities offerings, equal access to offerings and information toentities accessing the informational portal; and (iii) establishing, viathe first portal, a communication channel between the computer platformand the one or more broker-dealers, wherein the communication channeluses protocols that connect broker-dealers to existing stock exchangesfor secondary market trading orders to also provide for participation innew issue offerings, to thereby expand infrastructure used for secondarymarket trading orders to further include distribution of the one or morenew issue securities offerings.
 440. The system of claim 415, whereinthe computer platform is configured to: perform demand discovery. 441.The system of claim 415, wherein the computer platform is configured to:perform price discovery.
 442. The system of claim 415, wherein the oneor more orders are comprised of two or more of: at least one new order,at least one order amendment, and/or at least one order cancellation.443. The system of claim 415, wherein the first portal is a secureelectronic portal that allows the one or more broker-dealers to accessits respective data and information securely.
 444. The system of claim415, wherein the second portal is a secure electronic portal that allowsthe at least one lead agent to access its respective data andinformation securely.
 445. The system of claim 415, wherein thecomputer-readable program instructions further include instructions for:utilizing, once at least one of the one or more final listings aregenerated, the computer platform for commencement of secondary markettrading of at least one of the one or more new issue securitiesofferings.